From Yahoo Finance: 2025-05-27 09:34:00

The Central Bank of the UAE (CBUAE) and the Central Bank of the Republic of Azerbaijan (CBAR) have signed a memorandum of understanding (MoU) to enhance cooperation in the financial sector. The agreement allows for information sharing on regulatory practices, training, and exploring retail payment system integration.

During a visit to the UAE, CBAR Governor Taleh Kazimov and Counsellor Ulvin Aliyev met with CBUAE Governor Khaled Mohamed Balama to discuss strengthening ties between the two countries’ financial sectors. The MoU will also focus on fostering the development of financial technology and digital payment solutions.

The MoU between CBUAE and CBAR aims to promote economic partnerships and enhance cooperation in banking, insurance, and financial sectors. Both parties are committed to exchanging experiences, developing financial services, and supporting economic growth and stability in both jurisdictions. The collaboration will strengthen economic, commercial, and investment ties between the UAE and Azerbaijan.

Read more: UAE and Azerbaijan foster financial ties