Azerbaijan’s central bank prepares 2027-2030 strategy

Azerbaijan’s central bank is preparing a new strategy for the development of the financial sector covering 2027-2030.

Fidan Tofidi, director of the Central Bank’s Financial Technologies and Innovation Department, said the regulator was completing the current three-year strategy and had started work on the next strategic period.

She said digitalisation and the wider use of artificial intelligence in the financial sector would become key priorities of the new strategy.

“If we are still talking about digitalisation today, the world is already moving towards artificial intelligence,” Tofidi said.

She said the central bank had assessed the digital maturity of the banking, insurance, fintech and capital market sectors.

According to Tofidi, the new strategy will be based on real data and indicators collected from across the financial sector.

N.Tebrizli