16:08 - 10.06.2026

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June 10, Fineko/abc.az. The strict control model is already losing its relevance, and regulators are having to move to more flexible approaches.

ABC.AZ reports that Zaur Hajili, Director of the Financial Monitoring and Regulation Policy Department of the Central Bank of Azerbaijan, made this statement at the X International Financial & Banking Summit in Baku.

Hajili added that the traditional strict control model of supervisory and regulatory authorities is already a thing of the past and cannot function with the previous approach: "Especially rapidly developing fintech technologies, virtual assets and artificial intelligence make it necessary to introduce new approaches in this area.»

He noted that if we look through the prism of macro-regional control, then There are certain differences between approaches to compliance, particularly in the countries of Central Asia and the states of the Caspian basin.

According to Hajili, the observed inconsistencies both in the regulatory framework and in the practice of applying these rules lead to the emergence of regulatory arbitration, or a "gray area".