ADB: Every e-signature saves Azerbaijan 1 euro

Each digital signature used by one workforce member saves Azerbaijan approximately 1 euro and up to 5 days annually, Report informs referring to the Asian Development Bank (ADB).

"Azerbaijan's national mobile electronic identification (eID) system, Asan İmza, enables financial institutions, mobile network operators, and government agencies to digitally verify a user's identity; and enables e-signatures for users of digital services, such as online banking. Based on a public–private partnership model, its key stakeholders include the Asan Certification Services Centre (ASXM), the country's certification authority; a service provider (B.EST Solutions); mobile operators (Azercell, Azerfon, Bakcell); end users; and end-user service providers, such as government agencies and banks.

Asan İmza's implementation has increased efficiency and reduced administrative costs. For instance, 90% of tax declarations, 100% of labor contracts, and 100% of customs declarations can now be completed online. In addition, 100% of business-to-business invoices are now issued online, and a firm can be set up in 5 minutes.

All major banks use Asan İmza for customer identification, which has helped streamline know-your-customer and anti-money-laundering efforts.

As a result, the government has achieved an estimated annual savings of 2% of gross domestic product (GDP). Every digital signature from a person in the workforce will help the country save €1 and 5 days per year. The mobile eID solution has also bridged the digital and financial access and literacy gaps in Azerbaijan. For instance, taxpayers can submit tax declarations to a dedicated helpline without needing a computer or the internet. Similarly, users can access a range of financial services and prove their identity over the phone to their providers," ADB noted.