The National Bank of Hungary announced that it signed a memorandum of understanding with the Central Bank of the Republic of Azerbaijan at the second meeting of the Council of Central Bank Governors of the Organization of Turkic States. The agreement is intended to strengthen professional cooperation and knowledge sharing between the two institutions, including in financial innovation. In remarks at the meeting, Governor Mihály Varga linked the cooperation to a more uncertain global economic environment and to pressures from geopolitical tensions and energy price volatility on small, open economies. He said the National Bank of Hungary's priorities remain sustainable price stability and financial stability, and highlighted electronic payments and the safe use of new technologies, including artificial intelligence, as areas where closer central bank cooperation can deepen experience and support stability.
National Bank of Hungary2026-06-04
National Bank of Hungary signs memorandum with Central Bank of Azerbaijan to deepen cooperation on financial innovation and knowledge sharing
The National Bank of Hungary signed a memorandum of understanding with the Central Bank of the Republic of Azerbaijan to strengthen professional cooperation and knowledge sharing, including financial innovation. Governor Mihály Varga linked the move to heightened global economic uncertainty and reaffirmed the bank’s focus on sustainable price and financial stability, highlighting electronic payments and the safe use of new technologies, including artificial intelligence, as key areas for cooperation.