Tashkent, Uzbekistan (UzDaily.com) -- A regional meeting of payment experts from central banks of Central Asia and Azerbaijan was held in Baku, where they discussed current issues and exchanged experience in the field of payment systems, financial technologies and cybersecurity.

Employees of the Central Bank of Uzbekistan gave a presentation on the topic of Suptech and Regtech, emphasizing the importance of using advanced technologies to improve the efficiency of control and regulatory functions. A lecture was also given on the topic “The Importance of Cybersecurity,” which focused on the need to protect data and information systems in the face of growing digital threats.

The meeting discussed the latest trends in the payment industry of Azerbaijan, the introduction of Open API and Open Banking in Kazakhstan, the digitalization of the payment system of Kyrgyzstan and the development of central bank digital currencies (CBDCs). The participants reviewed the legal regulation of FinTech and the introduction of open banking in Azerbaijan.

Particular attention was paid to the exchange of information between central banks in the field of cybersecurity, centralization of internal card infrastructure, integration of instant payment systems and remote and cross-border identification systems. The specifics of regulation of payment service providers were also discussed.

The event became an important platform for strengthening cooperation and exchange of experience, promoting the development of modern financial technologies in the region. The participants developed joint strategies for the further development and integration of payment systems, concluding agreements on continued cooperation and information exchange between central banks.