The National Bank of Georgia [NBG] and the Central Bank of the Republic of Azerbaijan have signed a Memorandum of Cooperation to enhance bilateral cooperation across various financial sectors.

The agreement was signed by Natia Turnava, Governor of the NBG, and Taleh Kazimov, Governor of the Central Bank of Azerbaijan.

Under the memorandum, the two central banks will collaborate on financial regulation and supervision, monetary policy, payment systems, financial technologies, and securities markets. The memorandum also emphasizes experience sharing and information exchange based on mutual support.

“We have a strong partnership with the Central Bank of Azerbaijan, and it is essential that our economic relations continue to grow. As trade expands, our banking and financial sectors must keep pace. During my meeting with my Azerbaijani counterpart, we agreed to deepen cooperation, particularly in aligning our payment systems. This will enable our banking sectors to facilitate trade flows and transactions swiftly and efficiently. Additionally, collaboration in fintech, financial technologies, and cybersecurity is crucial. Given the shared challenges in our region, exchanging insights on macroeconomic forecasts is highly valuable. We look forward to planning the next meeting in Tbilisi and welcoming my Azerbaijani colleague to the NBG”, - said Natia Turnava.