BAKU, Azerbaijan, February 14. The Central Bank of Azerbaijan (CBA) has approved new requirements to ensure information security for entities under its supervision, aimed at enhancing the capacity and accountability of non-banking credit organizations (NBCOs) in this field, said Khayyam Ismayilov, Head of the CBA Credit Organizations Supervision Department, TurkicWorld reports.
During his speech at the Azerbaijan Financial Forum, Ismayilov noted that the monitoring process elucidated discrepancies, as NBCOs had historically deprioritized the imperative of information security.
"We continue to work in this area, and in the next phase, requirements for conducting external audits and corporate governance standards for NBCOs will be developed," he added.
