BAKU, Azerbaijan, October 16. The Central Bank
of Azerbaijan (CBA) and the Swiss National Bank held an exchange of
views on opportunities for cooperation.
This was announced in a statement published by the CBA.
According to the statement, a delegation led by Central Bank
Governor Taleh Kazimov met with Swiss National Bank Chairman Martin
Schlegel on the sidelines of the annual meetings of the World Bank
and the International Monetary Fund.
During the meeting, the parties discussed global challenges,
recent trends in the financial sector, and initiatives aimed at
ensuring macroeconomic and financial stability.
The sides expressed satisfaction with the current state of
bilateral relations and exchanged views on the prospects for
further cooperation.
The Swiss National Bank (SNB) is the country’s central bank and
implements its monetary policy. Its primary objective is to ensure
price stability while taking economic development into account.
The SNB operates under the Swiss Constitution and the National
Bank Act and is independent in carrying out its mandate. The bank
issues banknotes to meet the country’s demand for cash, manages the
circulation of coins, and withdraws worn-out banknotes from
circulation.
In addition, the bank helps maintain the stability of the
financial system and participates in international monetary and
credit cooperation.
The bank’s governing and executive body is the Board of Directors,
which consists of three members. The Board is responsible for
making key decisions regarding monetary policy, asset management
strategy, and ensuring financial stability.
