Second Meeting of Council of OTS Central Banks takes place in Baku

AKIPRESS.COM – The Second Meeting of the Council of Central Banks of the Organization of Turkic States (OTS) member states was successfully held in Baku, Azerbaijan, on June 4, the OTS press service reported.

The meeting brought together high-level officials including Secretary General of the OTS Kubanychbek Omuraliev, Governor of the Central Bank of Azerbaijan Taleh Kazimov, Governor of the National Bank of the Kyrgyz Republic Almaz Baketaev, Governor of the Central Bank of Türkiye Fatih Karahan, Governor of the Central Bank of Uzbekistan Timur Ishmetov, Ambassador of Kazakhstan to Azerbaijan Alim Bayel, Governor of the Central Bank of Hungary Mihály Varga and Governor of the Central Bank of Northern Cyprus Rifat Günay.

In his opening remarks, Secretary General Kubanychbek Omuraliev emphasized the historic significance of establishing the Council of Central Banks as a strategic step toward deepening financial cooperation within the Turkic World.

He underscored the growing role of financial technology in shaping digital financial ecosystems and highlighted the importance of striking an appropriate balance between innovation and financial stability. He also emphasized the need to further strengthen regulatory frameworks while also exploring new opportunities to enhance the efficiency of financial systems and promote greater financial inclusion.

Ambassador Omuraliev stressed the importance of continuing the joint work within the established working groups on monetary policy, payment systems, and statistics, which were formed following the outcomes of the 1st Meeting of the Council.

During the meeting, the participants exchanged views on the current economic situation, monetary policy frameworks, and financial stability trends within their respective countries. A special focus was placed on the Central Banks’ monetary and financial policy responses to global and regional risks in the medium term, as well as development of digital financial ecosystems.

As an outcome of the meeting, the heads of delegations signed the Communiqué of the Second Meeting of the Council of Central Banks, reaffirming their commitment to closer financial cooperation and dialogue. The Third Meeting of the Council will be held in Türkiye in 2027.