Baku: Himalay Mamishov, Azerbaijan's Deputy Minister of Finance, met with a delegation from the Korea Fiscal Information Service (KFIS). The meeting focused on Azerbaijan's public financial management reforms aimed at advancing digital transformation, the exchange of expertise based on Korea's best practices, and cooperation in designing digital financial control and treasury systems, including the preparation of a comprehensive implementation roadmap.

According to Azerbaijan State News Agency, Himalay Mamishov emphasized that digital transformation remains a strategic priority of Azerbaijan's institutional reforms. He expressed appreciation for the Korean side's expert support and highlighted the value of continued cooperation in strengthening institutional capacity, promoting knowledge transfer, and modernizing public financial management.

It was noted that a Ministry of Finance delegation visited the Republic of Korea in April to study the dBrain+ digital public financial management system. The meeting also recalled the signing of an MoU with the Korea Fiscal Information Service (KFIS), which supports cooperation on developing Azerbaijan's Digital Public Financial Information System and strengthening transparency, accountability, and efficiency in public financial management.

The next phase of the project, supported by Korean experts, will focus on assessing Azerbaijan's public financial management system, strengthening internal financial controls, integrating data and information systems, and developing fiscal risk analysis tools and role-based management dashboards. It will also deliver a conceptual design and phased implementation roadmap for a digital treasury system.

The parties identified the application of AI-driven solutions, data-informed decision-making, budget forecasting, early fiscal risk detection, enhanced audit and oversight, and stronger cybersecurity for public financial information systems as key priorities for future cooperation.

The meeting concluded with the signing of a Memorandum of Understanding between the Digital Finance Center of the Ministry of Finance and the KFIS on the design of Azerbaijan's digital financial control and treasury systems and the development of an implementation roadmap.