The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reported on a bilateral meeting in Baku between its delegation, led by Chair Madina Abylkassymova, and Central Bank of Azerbaijan Chair Taleh Kazymov, focused on financial stability, financial market regulation, and strategic priorities. The parties agreed to proceed with signing a memorandum of understanding to strengthen cooperation between the two regulators. Discussions covered Kazakhstan’s risk-based supervision approach, including risk assessment and management practices designed to focus supervisory attention on the most material risks and allocate resources more effectively. The Kazakh delegation also highlighted recent changes in banking legislation aimed at strengthening the resilience of financial institutions, protecting consumers of financial services, and developing a competitive environment, alongside supervisory digitisation initiatives such as electronic platforms for collecting and analysing regulatory reporting, development of remote supervision tools, and the use of artificial intelligence in analytical work. Cooperation areas discussed included experience sharing and joint educational and research projects.

Original source View in tracker