On 22–23 October 2026, representatives of the Central Bank of the Republic of Azerbaijan visited the National Agency of Prospective Projects of the Republic of Uzbekistan (NAPP) in Tashkent. The visit aimed to facilitate experience-sharing between the two regulators in the capital market sector.
The visit was organized following a request from the Central Bank of the Republic of Azerbaijan to study the capital market in Uzbekistan, as well as NAPP’s practical experience in regulation and supervision, and to promote the exchange of professional knowledge and approaches between specialists from the two countries.
The Azerbaijani delegation expressed particular interest in the ongoing reforms aimed at developing the capital market, improving the regulatory framework in line with international standards, including IOSCO and PFMI requirements, introducing new financial instruments, developing market infrastructure and strengthening its international integration. Particular attention was also given to securities market monitoring mechanisms, the prevention and detection of market manipulation, issuer disclosure requirements, and the application of a risk-based approach to supervisory activities.
NAPP representatives also shared their experience in developing international cooperation in the field of supervision and the legal regulation of the placement of global depositary receipts (GDRs) of the National Investment Fund of Uzbekistan (UzNIF). They also provided an update on the ongoing work towards signing the MMoU (Multilateral Memorandum of Understanding) with the International Organization of Securities Commissions (IOSCO).
At the conclusion of the visit, the parties discussed prospects for further cooperation, the exchange of practical experience, and improvements to regulatory approaches through the use of digital and analytical solutions.
