Azerbaijan Debates Boosting Accessibility To Digital Financial Services

(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 26. Opportunities for increasing access to digital financial services and innovative solutions in Azerbaijan were discussed, Trend reports via the Central Bank (CBA).

During a meeting, CBA Chairman Taleh Kazimov engaged with representatives from organizations that are not affiliated with the Azerbaijan Fintech Association (AzFina).

The meeting also addressed the pathways for institutional development within the fintech ecosystem.

During the discussion, views were exchanged on the priority directions and strategic initiatives of the Central Bank supporting the development of the financial technology sector, namely Open Banking, the distributed "Know Your Customer" concept, and the draft law "On the Cryptoasset Market." Moreover, the opportunities created by the IPS (instant payment system) and the importance of the special regulatory regime were emphasized.

Furthermore, the meeting assessed the challenges encountered by the organizations, highlighting the necessity to enhance their collaborative efforts and intercommunication.

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