Tuesday, 02 January 2024 12:17 GMT

Azerbaijan, Georgia Explore AI-Driven Innovations In Central Banking


(MENAFN- AzerNews) Qabil Ashirov Read more

In a move signaling deeper regional cooperation and digital transformation, the central banks ofAzerbaijan and Georgia have held high-level discussions on the practical implementation of artificial intelligence (AI)-powered systems in financial oversight and regulation, Azernews reports, citing the National Bank of Georgia (NBA).

According to a statement from the National Bank of Georgia, a delegation from the Central Bank of Azerbaijan(CBA) visited Tbilisi to exchange insights on cutting-edge financial technologies and regulatory practices.

During the visit, Georgian officials shared their experience in:

  • Risk-based supervision frameworks

  • Anti-money laundering (AML) strategies

  • Fintech integration and innovation

A key focus of the dialogue was theautomation of risk limit controls and the real-world application of AI-supported systems in banking operations. These technologies are increasingly seen as essential tools for enhancing efficiency, detecting financial crimes, and managing systemic risks in real time.

The meeting reflects a growing trend among regional financial institutions to embrace digital transformation and collaborate on AI-driven solutions that can modernize regulatory practices and strengthen financial stability.

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