CBA: In next 5 years, Azerbaijan must move to digital banking

Digital transformation is a priority for Azerbaijan, Director-General of the Central Bank of Azerbaijan (CBA) Farid Osmanov said at the 5th International Banking Forum “Cashless Economy: Reliable, Safe and Sustainable” in Baku, Report informs.

“The CBA plans to work in five main areas in order to expand non-cash payments. We want to develop legislation that will support fintech companies. We are also working on building and constantly expanding infrastructure to achieve development in this area. In the next five years, we must move from traditional to digital banking. The CBA provided the necessary support to expand non-cash payments, and we already know what work we will undertake in the next three years,” he said.