Opening bank accounts online in Azerbaijan under discussion
Baku, Azerbaijan, Feb. 19
By Azad Hasanli – Trend:
The opening of bank accounts online is under discussion in Azerbaijan, which is envisaged by the new "Order of Opening Accounts", Asim Zulfugarov, Acting Deputy Chairman of the Board of the Financial Markets Supervisory Authority of Azerbaijan (FIMSA), said.
Zulfugarov made the remarks at the event entitled “With digitalization to reality” in Baku, organized by the E-Gov Development Center, Trend reports on Feb. 19.
FIMSA is currently working on a number of documents that will help the development of digitalization in the country’s financial sector. In particular, FIMSA is working on the bill "On payment services", which will also allow creating e-money in the country.
“The issue of digitalization of financial services is very important for FIMSA,” Zulfugarov added. “This is also envisaged in the Strategic Road Map for the Development of Financial Services, approved in late 2016.”
Speaking about the current situation, Zulfugarov stressed that 70 percent of e-transactions with accounts are carried out in Europe. Moreover, 20 percent accounted for the share of e-transactions on current accounts in Azerbaijan in 2018, which is twofold more than in 2017.