The Central Bank of the Republic of Azerbaijan has been admitted as a non-voting observer member of the Berlin Group Open Finance Working Group, expanding its international cooperation on open banking and open finance. Observer membership provides a channel to work with leading organisations and regulators and to draw on international best practices, including in efforts to align Azerbaijan’s regulatory framework with international standards and support initiatives aimed at building an inclusive financial ecosystem and strengthening financial sector resilience. The Berlin Group, established in 2004, is an international initiative focused on developing standards and innovative solutions to increase interoperability in interbank operations within the Single Euro Payments Area and to promote an efficient retail payments market.
Central Bank of the Republic of Azerbaijan 2025-02-24
Central Bank of the Republic of Azerbaijan joins the Berlin Group Open Finance working group as a non-voting observer
The Central Bank of the Republic of Azerbaijan has joined the Berlin Group Open Finance Working Group as a non-voting observer, enhancing international cooperation on open banking. This membership allows collaboration with global organizations, aligning Azerbaijan’s regulatory framework with international standards. The Berlin Group focuses on developing standards to improve interoperability in interbank operations and promote an efficient retail payments market.