BAKU, Azerbaijan, December 3. Joint projects between Türkiye and Azerbaijan in the digitalization of the banking sector will enhance regional competitiveness and strengthen their positions on the international stage, Mustafa Aydın, Deputy Chairman of Türkiye's Banking Regulation and Supervision Agency (BDDK), said at the 8th International Banking Forum, TurkicWorld reports.
"Türkiye’s regulations ensure the safety and transparency of financial institutions' operations, boosting investor confidence and attracting international attention. A similar approach in Azerbaijan will strengthen trust among both local and international investors, contributing to the country’s development. Digitalization offers unique opportunities for deepening cooperation between our countries.
The modernization of digital banking and payment systems not only drives economic growth but also enhances citizens' access to financial services, thereby boosting their economic independence. Joint projects between Türkiye and Azerbaijan in this area will elevate regional competitiveness and strengthen both countries' positions on the global stage.
The synergy between Azerbaijan's rapidly expanding fintech ecosystem and Türkiye's established expertise will lay the foundation for regional leadership.
This collaboration will not only benefit the banking sector but also have a positive impact on consumers, local businesses, and entrepreneurs, fostering broader economic development," Aydın said.
To note, the 8th International Banking Forum is in full swing over two days in the bustling city of Baku, Azerbaijan, and the key topics of the forum include digital transformation (digital and neobanks), strategies for data management and analytics, the evolution of the payment landscape (transition to contactless technologies), 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compatible international payments, the revolution of decentralized finance (DeFi), cloud systems and alternatives to outdated technologies, digitalization through the lens of cybersecurity, stability and resilience, and green and sustainable banking (ESG).
