Bukhara:A delegation from the Azerbaijan Deposit Insurance Fund (ADIF) participated in an international conference in Bukhara, Uzbekistan, focusing on strengthening deposit insurance systems. The conference, titled ‘Strengthening Deposit Insurance Systems Risk Assessment, Resolution Readiness and Public Confidence,’ was organized by Uzbekistan’s Deposit Guarantee Agency.
According to Azerbaijan State News Agency, the event aimed to enhance the resilience of deposit insurance institutions, improve financial risk assessment and management, ensure timely compensation payments, and explore international standards and best practices for protecting depositors’ rights.
During the conference, ADIF Deputy Executive Director Akshin Jahangirov provided insights into Azerbaijan’s deposit insurance system and its legal framework. A memorandum of bilateral cooperation was signed between the Azerbaijan Deposit Insurance Fund and Uzbekistan’s Deposit Guarantee Agency. This agreement seeks to promote information sharing, improve compensation mechanisms, introduce digital technologies, and pursue joint initiatives.
The conference sessions addressed various topics, including risk-based insurance, financial stability, liquidity of insurance reserves, investment management, digital compensation payments, and bank liquidation procedures. ADIF representatives shared Azerbaijan’s legal and regulatory practices in deposit insurance. Aygun Baliyeva discussed risk management and digital compensation channels, while Azer Amirov explained the Fund’s role in bank liquidation and creditor claim settlements.
Participants discussed aligning systems with international standards, improving risk management and compensation procedures, and addressing regulatory challenges. They agreed to enhance institutional cooperation, exchange expertise, organize joint training sessions, and promote innovative technologies.