(MENAFN- Trend News Agency)
BAKU, Azerbaijan, May 13. The International
Finance Corporation's (IFC) work on an agent banking initiative
with Azerpost will ease payments and access to basic banking
services electronically, without having to visit banks, especially
in rural areas, Ivana Fernandes Duarte, IFC's Regional Manager for
the South Caucasus said in an exclusive interview with Trend.
'With IFC's support, the Central Bank of the Republic of
Azerbaijan adopted the Open Banking Road Map. This is an important
step to help financial sector players and fintech companies provide
innovative digital financial services to individuals and
businesses,' she said.
Duarte went on to add that IFC supports Azerbaijan's shift to a
dynamic private sector-led growth model. Diversifying away from oil
and gas will help the country create jobs and stimulate economic
growth.
'A conducive business environment is key to attracting
investments. That is why, over the last decade, IFC and relevant
government agencies cooperated to develop a new legislative
framework. Azerbaijan recently adopted a law on tourism, which was
developed with IFC's advisory support. The law deregulates the
tourism sector and introduces novelties that align the country's
tourism sector with international best practices. It envisions
setting up an electronic register for tourism resources as well as
developing an automated data exchange system between hotels and the
Ministry of Internal Affairs, among other innovations. The advisory
work in this area has been part of IFC's Azerbaijan Investment
Climate and Agribusiness Competitiveness project implemented in
partnership with the Swiss State Secretariat for Economic Affairs
SECO and the Austrian Federal Ministry of Finance,' added IFC
regional manager.
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