Azerbaijan, Baku, May 4 / Trend A. Akhundov /
The Azerbaijani Central Bank (CBA) will launch a Cash Management System (CMS) in further years, first deputy chairman of the Azerbaijani Central Bank Alim Guliyev told Trend on Saturday.
"The foreign experts are working over the system," Guliyev said.
The Azerbaijani Central Bank chose the winner of the system creation tender - PEC N.V.
company in May 2012.
The system ensures the creation of a centralized information network covering cash transactions of the Central Bank, as well as the banking sector and the Central Bank in real-time.
It also ensures the creation of a centralized information network and database required for decision-making on cash management.
Using this system will contribute to strengthening the CBA mechanisms of control over storage, transportation, processing, delivery, removal and destruction of banknotes, as well as flexible governance of potential risks.