The National Bank of Azerbaijan (NBA) completed implementing external bank control system FinA International (FinA), which is based on up-to-date IT for financial info analysis and collection from Azerbaijan commercial banks, Trend reports quoting Rufat Aslanli, CEO, NBA.
The similar system has been implemented in several countries. In Georgia such implementation was successful, but Central Asian countries after some time discarded it.
В"This doesnt mean the system is inadequate and complicated, the matter is difference in central banks IT-strategiesВ", he added.
В"Our team significantly upgraded FinA original structure and now author rights at 60-70% belong to it. It was added early warning tools, new situation modeling, stress-tests and soВ", said Aslamli.
FinA system was implemented jointly by USAID and National Bank of Azerbaijan.