26 January 2024, Baku: The Management Board of Central Bank of Azerbaijan approved the “Financial Sector Development Strategy 2024-2026”.

The Strategy envisions development of insurance, capital markets and payment sectors and reinforces further resilience of the banking sector of Azerbaijan. It highlights fostering Financial Inclusion, encouraging Depth and Diversification of financial instruments, facilitating Efficiency, safeguarding Transparency and strengthening Resilience of the financial sector as Strategic Objectives.

The Strategy document also reflects on a quantitative estimation of the market potential for each sector, determines relevant qualitative and risk-based regulatory requirements of Central Bank of Azerbaijan and encompasses cross-border strategic initiatives such as Digital Finance, Sustainable Finance, Professional Growth and Financial Literacy.

Successful achievement of the targets specified in the “Financial Sector Development Strategy 2024-2026” will contribute to the macroeconomic and financial stability of our country and will create new opportunities for citizens to benefit from a robust and resilient financial system.

The public will be informed about the progress on implementation of the Strategy on an annual basis.

Please follow the link to the comprehensive summary of the Strategy document:

Financial Sector Development Strategy 2024-2026