BAKU, Azerbaijan, January 25. The online issuance of licenses by the Central Bank of Azerbaijan (CBA) will ease the work of entrepreneurs, the head of the Central Bank of Azerbaijan's national payment systems development and oversight department Ramil Mahmudov said during an event on "Non-tariff barriers in trade" in Baku, Trend reports.
He noted that the CBA is focused on digitalization.
"The bank does not have direct business relationships with entrepreneurs. Nonetheless, this year, platforms have been built in a variety of areas to facilitate entrepreneurs' interactions with the CBA. One of them is the issuance of licenses on a digital platform, and work has already begun," the official explained.
"Once this platform is launched, there will be no need to conduct transactions on paper, as the information systems of several government structures will be integrated into this platform," Mahmudov concluded.
Payment and electronic money institutions operating in Azerbaijan are planned to be licensed by May 1 of this year.
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