Central Bank of Azerbaijan becomes full member of FinCoNet

The Central Bank of Azerbaijan (CBA) has joined the International Financial Consumer Protection Organization (FinCoNet) as a full member, aiming to enhance international cooperation and adopt best practices in financial consumer protection.

According to Report, this membership enables the CBA to participate in FinCoNet's working groups on responsible lending, consumer protection in digital financial services, market conduct supervision, and risk assessment.

Through this engagement, the CBA gains access to globally recognized policy documents, research databases, and opportunities to contribute to the development of international policy frameworks.

As a member, the CBA will also be able to adopt advanced global approaches in financial consumer protection and play a role in shaping FinCoNet's strategic agenda.

Established in 2013, FinCoNet is an international organization comprising supervisory authorities responsible for market conduct and financial consumer protection. Its mission is to promote effective oversight mechanisms, ensure fair and transparent market practices, and facilitate the exchange of best practices among member institutions.