Central Bank and UK Chartered Insurance Institute move toward strategic partnership

The Central Bank of Azerbaijan and the United Kingdom's Chartered Insurance Institute (CII) are moving to establish a strategic partnership aimed at strengthening professional education and workforce development in the country's insurance sector.

The initiative was discussed during a meeting between a delegation led by Vusal Gurbanov, Executive Director of the Central Bank, and Matthew Hill, chief executive of the CII, one of the world's leading professional bodies for insurance and financial services education. The two sides explored opportunities to support the development of human capital in Azerbaijan's insurance industry and discussed plans to position the country as a regional center for insurance education and training aligned with international standards.

As part of the proposed cooperation, the parties reached a preliminary agreement to introduce an internationally recognized training program in Azerbaijan with the participation of CII professors and industry experts.

The program is expected to provide insurance and financial-sector professionals, as well as individuals seeking careers in those fields, with access to internationally accredited education and training in insurance and risk management. The initiative will help develop a workforce equipped to meet the evolving needs of the country's labor market.