Baku, Azerbaijan, April 14. Market
participants in Azerbaijan’s financial sector are no longer
operating separately but as part of a cohesive team, while still
maintaining competition among themselves, said Taleh Kazimov,
Governor of the Central Bank of Azerbaijan (CBA), Trend reports.
Speaking at an event dedicated to the 35th anniversary of the
Azerbaijan Banks Association (ABA) and the 25th anniversary of its
subsidiary, the Azerbaijan Banking and Financial Training Center,
Kazimov emphasized that the strategic policies initiated by
national leader Heydar Aliyev and continued under the leadership of
President Ilham Aliyev have led to significant development and
strong momentum across all sectors of independent Azerbaijan,
including banking.
He noted that under the current administration, the banking
sector has seen considerable progress in strengthening resilience
against potential risks and expanding access to financial resources
for economic actors.
Regarding financial inclusion, Kazimov highlighted the crucial
role of the ABA in promoting initiatives in this area. He also
underlined that the collaboration between the Central Bank and the
ABA has helped modernize the sector and broaden innovation
efforts.
“The fact that market participants now operate as a large team
rather than individually — while still preserving a competitive
spirit — is a testament to this synergy. I want to express my
gratitude to the ABA leadership and bank executives for making this
possible,” he said.
Kazimov also expressed appreciation to President Ilham Aliyev
for creating a supportive environment for sustainable development
in the financial sector.
The event opened with remarks by Natig Amirov, Assistant to the
President of the Republic of Azerbaijan and Head of the Department
of Economic Policy and Industrial Affairs within the Presidential
Administration; Alpaslan Çakar, Chairman of the Board of the Banks
Association of Türkiye; and Zakir Nuriyev, President of the
Azerbaijan Banks Association (ABA). Speakers reflected on the
milestones and achievements of the banking and financial sector
over the years.
Additionally, the event spotlighted the evolution of the
Training Center — now operating as the Azerbaijan Bank and
Financial Training Center — emphasizing its role in the
professional development of financial sector personnel and the
enhancement of industry-wide expertise.
The event, significant for the country’s financial sector, was
attended by senior government officials, financial industry
leaders, and representatives from foreign associations and
organizations collaborating with the ABA.
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