(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 12. The Central Bank
of Azerbaijan (CBA) and representatives of the Azerbaijan FinTech
Association (AzFina) discussed the formation of an innovative
payment ecosystem, as Governor of the CBA Taleh Kazimov wrote on
his page on X, Trend reports.
"We had another meeting with officials from the Azerbaijan
Fintech Association at the Central Bank. During the meeting, a
presentation was provided focusing on global economic developments,
particularly inflation, domestic macroeconomic and monetary
conditions, as well as the balance of payments and the FX market
scenario," Kazimov said.
"Participants at the meeting also discussed the previous year's
results, the activities of firms represented in the fintech
ecosystem, the formation of the innovative payments ecosystem, and
the spread of cashless payments," he added.
Previously, the CBA and AzFina representatives highlighted the
opportunities for growing the fintech sector.
AzFina was created in December 2020 by six significant financial
The association's main goals are to support the development of a
digital financial ecosystem in the country as well as the creation
of conditions for the transition to a digital economy; to assist
fintech companies in their development; to represent and defend
their interests in state and non-state institutions; and to
contribute to more effective collaboration between fintech
companies and other market participants.
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