28 August 2026, Baku: The Central Bank continues to convene meetings aimed at promoting innovative solutions and services across the financial sector. Its latest roundtable, titled “Expanding Digital Transformation and the Application of Artificial Intelligence,” brought together representatives of organizations in the insurance and capital markets sectors.

The meeting was chaired by Sadig Akhundov, Executive Director of the Central Bank, and attended by senior officials responsible for digital transformation at the participating organizations.

Akhundov highlighted the importance of initiatives to foster an innovation ecosystem in the country. He stressed the need to apply to the financial sector the priorities identified at a February meeting on “Azerbaijan’s New Digital Architecture,” chaired by President Ilham Aliyev, and at the first meeting of the Digital Development Council, held in June under the chairmanship of First Vice President Mehriban Aliyeva.

Akhundov said accelerating digital transformation was essential to the development and competitiveness of the financial sector. He also underscored the importance of using new technologies effectively and responsibly, expanding digital services and maintaining a balance between innovation and risk management as the country works to build a sustainable digital financial ecosystem.

The participants also discussed the use of AI in the financial sector, the key challenges facing market participants as digitalization advances and the potential opportunities emerging from the process.

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