Azerbaijan pioneers digital financial regulation with groundbreaking SupTech Roadmap

Azernews.Az

21 February 2025 08:30 (UTC+04:00)

Nazrin Abdul

The financial sector worldwide is undergoing an unprecedented transformation, fueled by the rapid advancements in digital technologies. In Azerbaijan, the “Roadmap on Supervisory Technologies (SupTech)”, developed in collaboration between the Central Bank of Azerbaijan (CBA) and the World Bank Group, marks a significant step in embracing this digital shift. This comprehensive framework, formulated within the context of the “Financial Sector Modernization 3 Project”, has been designed to address the evolving needs of the financial regulatory landscape, specifically in the area of risk-based supervision (RBS).

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