Kazakh capital to host 1st meeting of Council of OTS Central Banks

The signing of the Memorandum on Establishment of the Council of OTS Central Banks took place within the Organization's XI Summit in Bishkek. The initiative was put forward by the President of Kazakhstan to strengthen effective cooperation between the central banks of the OTS, ensure financial stability, develop payment systems and introduce digital financial innovations.

The leaders of the member states unanimously backed the idea. The ceremony of signing the Memorandum was attended by the governors of the central banks of Azerbaijan, Kazakhstan, Kyrgyzstan, Türkiye and Uzbekistan.

The members of the Council are expected to exchange opinions and experience, to hold joint consultations and research in monetary policy, financial stability, payment systems, financial technologies and other spheres representing mutual interest.

The first meeting of the Council of Turkic Central Banks will be held in the Kazakh capital during the Astana International Forum.

“The meeting will focus on the current state of economy of the member states, key areas of monetary policy, measures to ensure financial stability, development of payment systems, as well as prospects for introduction of digital currencies of central banks, cooperation in financial technologies and other issues.In this way, the Council will provide a sustainable platform for financial policy coordination, which in a long-term outlook will enhance macroeconomic stability and the interconnectedness of the OTS member states,” Kubanychbek Omuraliev said.

Earlier it was reported that the OTS Informal Summit in Budapest, Hungary, ended with signing the Budapest Declaration and Statement on Afghanistan