Turkic States establish Council of Central Banks to boost financial cooperation
Akbar Novruz
Read moreA memorandum establishing the Council of Central Banks for the Organization of Turkic States (OTS) was signed during the 11th OTS summit held in Bishkek, Azernews reports.
This new initiative aims to enhance collaboration among the central banks of member countries, focusing on shared expertise in monetary policy, financial stability, payment systems, and financial technologies.
The agreement was signed by representatives from the national banks of Kyrgyzstan, Azerbaijan, Kazakhstan, Turkey, and Uzbekistan, including Taleh Kazimov, Chairman of the Central Bank of Azerbaijan. This council is set to facilitate joint consultations and research, promoting the exchange of experience in key areas vital to economic resilience and regional financial integration.
The 11th OTS summit will officially commence on November 6, further solidifying cooperative efforts among the member states in various sectors.
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