Baku, Azerbaijan, April 3
By Azad Hasanli - Trend:
The International Finance Corporation (IFC) plans to sign agreements with banks and non-bank credit organizations in Azerbaijan to improve the population’s financial literacy in the field of digital services, a source in the IFC told Trend April 3.
“We also continue to hold virtual seminars on functionality, legislation and digital financial literacy,” the source noted. “We have almost completed negotiations with a number of financial organizations in Azerbaijan to implement measures aimed at increasing financial literacy in digital services sphere.”
The negotiations of the IFC and financial organizations of Azerbaijan are implemented as part of the Electronic and Digital Financial Services project.
The project implementation period is three years.
Within the project, banks will cooperate with state agencies, mobile operators and processing centers to provide various financial services through mobile apps and internet banking.
Azerbaijan became an IFC member in 1995. Since then, the IFC has provided the country with loans worth over $470 million.