Held the next meeting of the Council of Young Scientists and Specialists at the Institute of Economics of the Ministry of Science and Education on July 7, 2026. The event, organized under the chairmanship of the Council's Chairman, Doctor of Philosophy in Economics Elnur Zeynalov, included extensive discussions on improving the effectiveness of the risk-based approach in the banking sector of Azerbaijan and the current problems in this direction
At the meeting, Ph.D. student of the Institute, Zohr Babazadeh, delivered a speech on "Improving the Efficiency of the Risk-Based Approach in the Banking Sector of Azerbaijan."
At the presentation analyzed the development trends of risk-based control mechanisms in the banking sector of Azerbaijan, existing problems, and the application of international standards in this area.
It was noted that the acceleration of the digital transformation process in the banking sector, the widespread application of financial technologies and the emergence of new risk factors necessitate the constant improvement of the risk management system. In this regard, timely identification, assessment and management of risks is one of the main conditions for increasing the financial stability and competitiveness of banks.
The speaker also presented the results of the analyses conducted within the framework of the study and put forward a number of proposals and recommendations to increase the effectiveness of the risk-based approach in the banking sector.
Associate Professor, Famil Rustamov an Executive Director of the Institute of Economics who participated in the discussions, emphasized the relevance of the research topic and noted that the correct assessment and management of risks in the financial sector in modern times assumes particular importance for the sustainable development of the banking system. He voiced his recommendations on further deepening the research, expanding comparative analyses, and applying the obtained scientific results to practical activities.
During the meeting, answered participants' questions, held a broad exchange of views on the topic, and put forward various proposals for improving risk management in the banking sector (economics.org.az).
