Central Bank of Azerbaijan plans to develop standards to sup...| MENAFN.COM

Monday, 26 September 2022 10:20 GMT

Central Bank of Azerbaijan plans to develop standards to support open banking technologies in 2022


(MENAFN- Trend News Agency)

BAKU, Azerbaijan, Dec. 8

By Nazrin Israfilova - Trend:

The Central Bank of Azerbaijan (CBA) plans to develop the corresponding standards to support open banking technologies in 2022, CBA executive director Farid Osmanov told reporters on Dec. 8, Trend reports.

“Open banking is one of the most pressing principles,” CBA executive director added.“It is possible to say that most of the central banks support open banking.”

Osmanov said that in this regard, the CBA is also studying international experience.

“A roadmap for the introduction of open banking in 2021 has been developed and approved by the CBA's Council,” the executive director said.

Osmanov said that the roadmap has been published on the CBA's official website.

“The law on payment systems and payment services that we have developed supports the open banking principles,” the executive director said.“The CBA is considering the possibility of developing the corresponding standards, security, and technical standards to support open banking technologies in 2022.”

MENAFN08122021000187011040ID1103325879


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.