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Azerbaijan's CBA signs contract to acquire licenses for cybersecurity

Finance Materials 12 April 2021 17:49 (UTC +04:00)
Azerbaijan's CBA signs contract to acquire licenses for cybersecurity

BAKU, Azerbaijan, Apr.12

By Zeyni Jafarov - Trend:

The Central Bank of Azerbaijan (CBA) and Smartlt LLC have signed a contract, Trend reports on Apr.12 referring to the ‘Electronic Procurement’ portal.

The winner of the tender announced by the Central Bank of Azerbaijan for the acquisition of licenses for cybersecurity has been named.

"Smartlt LLC was chosen as the winner of the tender upon the decision of the tender commission,” the portal said. “A contract worth 854,075 manat ($502,400) was signed with the company."

The main goal of the CBA's activity within the powers determined upon the law of Azerbaijan ‘On the Central Bank’ is to ensure price stability in the country.

Moreover, the CBA organizes and ensures the operation of interbank centralized and other payment systems that do not require licensing and also assists in the stability of the banking system.

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