Cooperation with central banks

Swiss National Bank (SNB)

The CBA and the Swiss National Bank (SNB) launched cooperation in June, 2001 on technical assistance on monetary policy, statistics, researches, market operations, banking supervision, payment systems, IT, international relations, financial management, cash management, supervision methodology, HR management, internal audit and licensing.

The SNB experts regularly visited the CBA to identify potential cooperation tracks and shared their relevant expertise. During visits experts held meetings with various departments and exchanged opinions on evaluation of internal audit and study of options to apply the COBIT standards, oversight of payment systems, state of researches department staff, inflation models, real sector monitoring, improvement of the statistic database, qualifications of the IT Department and HR management, design and circulation of banknotes, issue of new generation money and preparation for denomination, management of market operations through non-administrative methods, development of the financial market, risk management, IT security, use of Intranet, automation of clerical work, Internet usage security, monitoring of payment systems information security, and development of the Emergency Response and Business Continuity Plan.

These activities were paralleled with the CBA employees’ visits to the SNB to closely acquaint with the SNB expertise on internal audit planning, the mechanism to implement the monetary policy, joint audit, the Cash Management System, HR management, application of barcodes for cash tracking, financial and strategic management and the transmission mechanism of the monetary policy.

The SNB expert consulted the HRD on the Formation of Effective HR Management project.

National Bank of Poland (NBP)

The CBA and the National Bank of Poland (NBP) launched vigorous cooperation in December, 2002. CBA employees regularly visited the NBP for exchange of experience on licensing and supervision methodology, internal audit, security, off-site supervision, launch of international relations, monetary policy, financial management, institutional framework of the strategic planning, performance management and appraisal systems, evaluation of systemic risks and financial stability analysis.

At the same time, the NBP experts provided their consultations and recommendations on stress-testing, analysis and evaluation of bank risks, improvement of internal control, installation of the video-surveillance system in the vault infrastructure that meet modern and int’l standards.

The NBP experts delivered workshops on creation of the Dynamic Stochastic General Equilibrium model and e-education in the CBA. Also, CBA employees regularly participate at trainings organized by the NBP.

Central Bank of the Republic of Turkey

The CBA and the Central Bank of the Republic of Turkey (CBRT) launched vigorous cooperation in 1995 upon signing the Bilateral Cooperation Agreement. Within this cooperation CBA employees visited the CBRT to exchange expertise on the monetary policy, statistics, HR, internal audit, accounting, international relations, payment systems, and market operations. In parallel, the CBRT experts visited the CBA to deliver workshops on financial stability and improvement of the procurement service.

The CBA launched beneficial cooperation with the Turkish Banking Regulation and Supervision Agency (TBRSA) on 7 September 2005 through signing a Cooperation Agreement on banking supervision. CBA employees visited the institution in question to study the Turkish experience on methodology of supervision.

Deutche Bundesbank

The CBA and the Deutche Bundesbank launched vigorous cooperation in April, 2001. During the first years of the cooperation Bundesbank provided threefold technical assistance – participation at international seminars held in Bundesbank, participation at individual seminars held in Baku, and Bundesbank expert consultations for the CBA.

On 24 July 2001 Bundesbank and the CBA entered into the Protocol of Intentions on Technical Cooperation. The Protocol addresses technical assistance areas. Under the Protocol, the Bundesbank provided workshops on diverse tracks of central banking for CBA employees, Bundesbank experts delivered consultations and workshops on general aspects of statistics, internal audit, international relations, organization of the performance of the Legal Department, accounting issues, monetary policy aspects, launch of the credit registry, cash center operations, cash management, HR management, central bank security, launch of an Institute of Expertise, organization of Executive Office activities. At the same time, Bundesbank experts organized various workshops in the CBA.

National Bank of Kazakhstan

The CBA and the National Bank of Kazakhstan (NBK) launched vigorous cooperation through signing Cooperation Agreements on Organization of Settlements between the Central Bank of the Republic of Azerbaijan and the National Bank of the Republic of Kazakhstan on 16 September 1996 and Exchange of Information and Researches in Financial-banking System on 23 October 1998.

CBA employees visited the NBK to have an exchange of experience on banking system restructurization and its key growth directions, development of financial markets and mortgage lending, improvement of cash circulation, information security, economic and banking statistics, launch of the Processing Center, int’l relations, deposits insurance, development of the pension system, monetary policy, creation of the General Ledger, internal control procedures, IT, currency regulation, liberalization of capital, clerical work and e-document turnover, internal audit within this cooperation. Also, to share their expertise on the balance of payments and currency regulation, the credit policy, management of FX reserves and discuss cooperation on issue of monetary units a delegation of the NBK representatives visited the CBA

In parallel, CBA employees regularly participate at conferences and workshops held by the NBK on diverse tracks of central banking.

A visit was paid to the Kazakhstan Pension Fund to study best practices on effective pension system development within the Economic Researches Program.


The Central Bank of Azerbaijan maintains close collaboration with the National Bank of Hungary, the Bank of Spain, the Bank of Latvia, the Czech National Bank, the Central Bank of Russia, the National Bank of Ukraine, the Bank of France, the Bank of England, the Sveriges Riksbank, the Bank of Portugal, the Saudi Arabian Monetary Agency, the Central Bank of Georgia and others. Within this cooperation central banks pay mutual visits to have an exchange of experience.

Azərbaycan Respublikasının Mərkəzi Bankı 20 ildə