CBA aims to ensure development of licensed organizations, says official

The main objective in the supervisory prism of the Central Bank of Azerbaijan (CBA) is to ensure the development of licensed organizations.

Report informs that this was stated by CBA Deputy Chairman Vusal Khalilov at Baku Fintech Forum 2025.

"The internal systems of organizations should effectively respond to the challenges they face. For this reason, we are implementing mechanisms in both the classical style and working on risk-based supervision, which is reflected in the 'Strategy for the development of the financial sector in 2024-2026'. This allows for more effective supervision with the help of a modern intelligence model," he noted.

In addition, the CBA official said that the monthly turnover of card transactions in the country has reached 10 billion manats: "This is a significant figure and an example of the country's overall transition to cashless payments. At the same time, we are witnessing an increase in the use of instant payments. We have managed to transfer 10% of transactions in the national payment system to the instant payment system. We are considering increasing this figure further."