BAKU, Azerbaijan, August 4. The Management
Board of the Central Bank of Azerbaijan (CBA) has adopted the "Code
of Ethics and Professional Conduct in the Financial Sector".
According to the CBA, the code was developed within the
framework of the "Strategy for the development of the financial
sector for 2024–2026" to increase professionalism in the financial
sector and unify ethical standards.
The CBA noted that the code creates a reliable reference source
for compliance with ethical principles by forming a single
behavioral framework for all professionals working in the financial
sector. It was noted that the document plays the role of
institutional support for the improvement of existing internal
codes by supervised entities, as well as the creation of new
internal codes.
"The document reflects 8 ethical principles, 6 rules of
professional conduct, and a mechanism for ensuring their
implementation. The Code defines the standards of behavior of
professionals towards clients, the financial sector and
institutions, other professionals, legislation, society, and the
environment, and strengthens the concept of multifaceted
professional responsibility.
This initiative serves to form uniform ethical and professional
standards of conduct in the financial sector, to maintain a fertile
and sustainable environment for the development of professionals,
to ensure the sustainable development and stability of the
financial sector, as well as to increase consumer confidence in the
financial sector," the bank pointed out.
Further details on the Code can be found through the link:
https://uploads.cbar.az/assets/0692a776092ea3c7fd56e945a.pdf
