Baku: The Central Bank of Azerbaijan (CBA) hosted the Second Meeting of the Council of Central (National) Banks of the Member States of the Organization of Turkic States (OTS). The gathering included key figures such as Kubanychbek Omuraliev, Secretary General of the OTS, along with delegations from the National Bank of Kazakhstan and the central banks of the Kyrgyz Republic, Uzbekistan, and Trkiye. Additionally, the central banks of Hungary and the Turkish Republic of Northern Cyprus participated as observers.
According to Azerbaijan State News Agency, Governor of the Central Bank Taleh Kazimov highlighted the council's potential to foster cooperation among countries and institutions. He emphasized the council's role in addressing both shared and nation-specific challenges amidst growing uncertainties in the global and regional economy, increasing volatility in financial markets, and the expanding application of digital technologies.
OTS Secretary General Kubanychbek Omuraliev reflected on the council's activities over the past two years and its contribution to enhancing cooperation among member countries and on a regional scale. The meeting featured an initial session focused on monetary and financial policy measures of central banks against global and regional risks in the medium term. Vugar Ahmadov, Executive Director of Azerbaijan's Central Bank, shared insights into the country's monetary policy and financial stability strategies in light of global economic developments.
The event proceeded with a Q and A session and presentations by various delegations. A second session addressed the development of digital financial ecosystems and financial technologies. Fidan Tofidi, Director of the Financial Technologies and Innovations Department at the Central Bank of Azerbaijan, presented the nation's progress and initiatives in this area.
Participants underscored the importance of expanding the Council's activities as a platform of regional and global significance and enhancing effective collaboration between central banks. The meeting concluded with the signing of a communiqu© by the heads of delegations, reaffirming their commitment to closer financial cooperation and dialogue, with the next meeting scheduled to be held in Trkiye in 2027.