(MENAFN- AzerNews)
By Ayya Lmahamad
Google Pay services will be introduced in Azerbaijan in the near
future, Central bank (CBA) Executive Director Farid Osmanov said at
a press conference, Azernews reports.
“Apple Pay payment service has already been launched as part of
CBA projects, and google Pay services will also be introduced in
the near future,” he said.
He emphasized that the bank is constantly working on expanding
financial inclusion and increasing the availability of financial
services.
“Necessary steps are being taken to improve services of the
country's financial institutions, as well as to create a
competitive environment involving international organizations,” he
said.
Revolut entering the Azerbaijani market
Osmanov mentioned that CBA is negotiating with the UK-based
Revolut fintech company, which eyes entering the Azerbaijani
market.
He noted that the Central Bank and Revolut discussed the
company's intention to provide money transfer services in
Azerbaijan.
“In case the final decisions are made, the Central Bank will
provide further information,” he said.
Online sales in the securities market
Speaking at the conference, CBA Governor Taleh Kazimov stated
that the bank is negotiating with several investment companies to
organize online sales in the securities market.
“The public will be later provided with detailed information.
Neighboring countries are actively improving the international
experience in this regard, and would like to see digital stocks and
bonds bought and sold on the securities market,” he said.
AZN-USD exchange rate
“No changes are expected in the exchange rate policy of
Azerbaijani manat against the U.S. dollar until the end of 2022,”
Kazimov said.
He noted that currently, the bank has no expectations to change
the Azerbaijani manat rate by the end of the year, considering the
surplus in the balance of payments and a sharp decline in demand at
foreign exchange auctions.
Kazimov added that the volume of current purchases of cash
currency by banks from the population exceeds its sales.
“The population sells more foreign currency than it purchases.
The growth in money transfers to Azerbaijan has also positive
impact on the situation,” he concluded.
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Ayya Lmahamad is AzerNews' staff journalist, follow her on
Twitter: @AyyaLmahamad
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