BAKU, Azerbaijan, October 23. An exchange of
institutional experience in the financial sector has taken place
between Azerbaijan and Uzbekistan.
This was reported by the Central Bank of Azerbaijan (CBA)
following a working visit by a delegation from the Central Bank of
Uzbekistan (CBU) to the CBA.
During the meetings held as part of the visit, presentations
were delivered to the Uzbek delegation covering topics such as the
development of risk-based annual audit plans, quality control,
process automation, reporting, and the monitoring of the
implementation of audit recommendations.
Throughout the meetings, CBA staff shared insights into the
institution's experience and the approaches it employs in these
areas. The parties engaged in a mutual exchange of experience
regarding these respective fields.
The Central Bank of Uzbekistan is the primary financial
institution responsible for implementing the country’s monetary
policy, ensuring the stability of the national currency, and
regulating the banking system. Its activities encompass the
formulation of monetary policy, the management of inflation, the
supervision of the banking sector, and the preservation of
financial stability. Furthermore, the development of payment
systems and the enhancement of the banking sector's resilience are
among its core areas of operation.
The CBU is guided by the objectives of maintaining price
stability, ensuring the resilience of the banking system, and
facilitating the uninterrupted operation of payment systems.
Additionally, the institution manages the country’s official
international reserves and implements measures to increase access
to financial services.
