Central Bank of Azerbaijan inks agreement to implement advanced compliance practices in financial sector

The Central Bank of Azerbaijan and the Compliance Association have signed a memorandum of understanding aimed at developing a compliance culture in the country's financial sector, Report informs referring to the CBA.

The document provides for the development of a sustainable compliance culture among financial and non-financial entities, the promotion of best practices in this area, and the further enhancement of regulatory compliance.

The agreement includes the implementation of educational and informational initiatives aimed at establishing and developing compliance mechanisms and principles of ethical conduct.

In particular, the agreement envisages the organization of seminars, training programs, roundtables, conferences, and other events for compliance professionals.