Baku:The President of the Azerbaijan Banks Association (ABA), Zakir Nuriyev, has emphasized the strategic importance of enhancing the integration of financial infrastructures among Turkic states. This statement was made during the fintech forum of Turkic states held in Baku.

According to Azeri-Press news agency, Nuriyev highlighted that discussions are actively ongoing and practical measures are being implemented to advance this integration. The primary focus is to develop an environment that facilitates convenient, fast, secure, and cost-effective financial transactions for individuals and businesses across the participating countries.

Nuriyev pointed out that integrating financial infrastructures is expected to boost the efficiency of cross-border payments and transfers, reduce transaction costs, and strengthen trade and investment ties. He stressed the importance of ensuring interoperability between payment systems, exploring the application of common technical standards, aligning regulatory approaches, and launching joint pilot projects.

Furthermore, he noted that alongside the advancement of digital services, it is crucial to enhance cooperation in cybersecurity, protect customer data, and combat fraud.