Polish Bank Association: Azerbaijan has potential to become regional financial leader - EXCLUSIVE

Intensifying bilateral contacts between Poland and Azerbaijan could add a new dimension to cooperation between the two countries and strengthen Baku's position as a leader in the region's financial sector, Wlodzimierz Kicinski, Executive Vice President of the Polish Bank Association, said at the 9th International Banking Forum in Baku, Report informs.

"We believe that Azerbaijani banks are quite modern, very active, and play an important role in increasing investment in the national economy. This largely aligns with the objectives of the Polish Bank Association and Polish banks. We see many common grounds and are confident that cooperation between our associations will be fruitful and has a bright future," he emphasized.

According to Kicinski, one of the most promising areas of cooperation is the payment system.

"Payment infrastructure is a key area. Polish banks are highly modern, automated, and well-equipped in this area, actively using AI-based solutions. In this regard, we can offer your banks an interesting tool – the Banking Technology Forum. This brings together leading technology companies offering innovations and solutions for the banking sector. Dialogue between banks and technology firms is crucial for the development of not only the banking sector, but also financial and public services. This will be one of the topics of our discussions with our Azerbaijani colleagues," he said.

Kicinski noted that open banking and the implementation of modern technologies are mandatory standards for the Polish banking system.

"We are confident that this allows us to be closer to our clients' needs. Central Asia is becoming increasingly important for the global economy, and we believe that intensifying our bilateral contacts will bring additional opportunities, allowing us to consider Baku and Azerbaijan as a country capable of becoming a leader in the financial sector," he added.