Azerbaijan, Baku, Feb. 7 / Trend , I.Khalilova/
National Bank of Azerbaijan (NBA) is negotiating with donors to obtain technical assistance to establish a centralized electronic statistical database, NBA International Relations Department Director Farid Bakhshiyev said on Feb. 7.
NBA originally expected to receive technical assistance from Swiss State Secretariat for Economic Affairs (Seco) but then had to abandon this option as creating servers is beyond the scope of activities to which Seco provides technical assistance.
According to Bakhshiyev, NBA has launched measures to create a statistical database from its own resources. Consultations with the Central Bank of Turkey (CBT) are underway. CBT invited Azerbaijani specialists to visit the bank to become familiar with Turkish experience.
When creating a centralized database, particular attention will be focused on experience of central banks of Switzerland, Turkey and Czechia.
Expenditures for introducing a statistical database are being specified, as design and architecture of this system has not yet been confirmed and requirements specification has not yet been fulfilled, he said. Database will be expanded to another monetary unit. According to Bakhshiyev, donors have different estimates, but in the case of using only domestic resources costs will be lower.
Project implementation period is about two to three years.
The purpose of creating a new database is to improve the current system and to raise it to international standards.
Database will be created for the NBA Statistics Department, established after the restructuring the National Bank Statistics and Research Department. The Statistics Department is keeping statistics on banking supervision and monetary base.