Azerbaijani, Uzbekistan`s deposit institutions sign memorandum on bilateral cooperation
Baku, October 16, AZERTAC
A delegation from the Azerbaijan Deposit Insurance Fund (ADIF) attended an international scientific and practical conference in Bukhara, Uzbekistan, titled “Strengthening Deposit Insurance Systems: Risk Assessment, Resolution Readiness and Public Confidence.”
Organized by Uzbekistan’s Deposit Guarantee Agency, the event aimed to strengthen the operational resilience of deposit insurance institutions, optimize financial risk assessment and management mechanisms, ensure timely compensation payments, and explore ways to implement international standards and best practices for protecting depositors’ rights and legitimate interests.
Addressing the conference, ADIF Deputy Executive Director Akshin Jahangirov outlined Azerbaijan’s deposit insurance system and its legal framework.
As part of the event, the Azerbaijan Deposit Insurance Fund signed a memorandum of bilateral cooperation with Uzbekistan’s Deposit Guarantee Agency to promote information sharing, improve compensation mechanisms, introduce digital technologies, and implement joint initiatives.
The conference sessions covered risk-based insurance, the financial stability and liquidity of insurance reserves, investment management, digital compensation payments, bank liquidation procedures, and measures to address risks to financial stability.
ADIF representatives presented Azerbaijan’s legal and regulatory practices in deposit insurance. Aygun Baliyeva discussed risk management, investment portfolio liquidity, and digital compensation channels, while Azer Amirov outlined the Fund’s legal role in bank liquidation and procedures for settling creditors’ claims.
Participants also discussed aligning deposit insurance systems with international standards, improving risk management and compensation procedures, and addressing emerging regulatory challenges. They agreed to strengthen institutional cooperation, exchange expertise, organize joint training, and promote innovative technologies.
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