Kazakhstan's Agency for Regulation and Development of the Financial Market announced that its Chair, Madina Abylkassymova, and the Chairman of the Central Bank of Azerbaijan, Taleh Kazimov, signed a memorandum of understanding to strengthen bilateral cooperation between the two financial authorities, focused on information exchange to support the stability of both countries’ financial markets. The memorandum envisages sharing information on national financial market conditions, development experience, and key standards and requirements for regulation and supervision, alongside exchanging experience on improving legislation and the regulatory framework, including mechanisms for supervising and monitoring market participants. The agency also linked its broader programme of information-sharing agreements with foreign regulators to implementing Financial Sector Assessment Program recommendations aimed at ensuring alignment with the Basel Core Principles for Effective Banking Supervision; the signing took place alongside the first meeting of the Council of Central Banks of the Organization of Turkic States, where leaders discussed economic conditions, fintech and central bank digital currency-related issues.
Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan 2025-05-27
Kazakhstan's Agency for Regulation and Development of the Financial Market signs information-sharing memorandum with the Central Bank of Azerbaijan
Kazakhstan's Financial Market Agency and Azerbaijan's Central Bank signed a memorandum to enhance cooperation via information exchange, focusing on market stability. The agreement includes sharing insights on market conditions, regulatory standards, and legislative improvements. This aligns with the Financial Sector Assessment Program recommendations and coincided with the inaugural meeting of the Council of Central Banks of the Organization of Turkic States.