The 8th International Banking Forum is in full swing over two days in Baku, Azerbaijan.
Executive Director of the Azerbaijani Central Bank Vusal Khalilov said the implementation of green taxonomy in Azerbaijan will establish a robust framework for attaining sustainable development objectives.
"Green taxonomy is a critical framework that assesses the environmental impact of investments and directs financial flows toward environmentally sustainable projects. This step not only strengthens the environmental responsibility of the banking sector but also creates a robust foundation for achieving sustainable development goals," Vusal Khalilov said.
Deputy chairman of Türkiye's Banking Regulation and Supervision Agency (BDDK) Mustafa Aydın said Azerbaijan has considerable potential in the areas of digitalization and the development of its fintech ecosystem.
"A strong economic structure and openness to innovation create opportunities for regional leadership in the banking sector...Cooperation between Türkiye and Azerbaijan in this area, including joint projects and knowledge exchange, could strengthen both countries’ positions in the banking and fintech sectors," Mustafa Aydın said.
Key topics of the forum include digital transformation (digital and neobanks), strategies for data management and analytics, the evolution of the payment landscape, instant, seamless, and compatible international payments, the revolution of decentralized finance (DeFi), cloud systems and alternatives to outdated technologies, digitalization through the lens of cybersecurity, stability and resilience, green and sustainable banking (ESG).
