RƏQƏMSAL İQTİSADİYYAT FONDLARININ BEYNƏLXALQ STANDARTLARA UYĞUNLAŞDIRILMASI

Financial innovations, financial and digital technologies are changing the way we live, work, consume, and produce goods and services. In an increasingly competitive environment, the Internet offers opportunities to improve business and benefit from lower production costs. Using information and communication technologies (ICT), small and medium-sized enterprises (SMEs) can access global markets that were once the preserve of large corporations. Digital platforms are changing the economics of doing business by reducing the costs of cross-border interactions and transactions. The development of FinTech raises questions for financial authorities about expanding the regulatory and supervisory perimeter, the compliance of new types of digital financial services with existing rules, and the identification, assessment, mitigation, and monitoring of the risks of financial innovations. Digital globalization is changing value chains, creating new hubs, and transforming economic activity. In this environment, policymakers must find the right balance between leveraging the benefits of openness and mitigating the risks that are emerging at an unprecedented pace in the digital world. How large the digital economy will be in the medium and long term remains a question, but there is no doubt that it will grow at a significant pace.