BAKU, Azerbaijan, September 14. Financial inclusion is expected to increase within the framework of financial sector development strategy for 2026, Chairman of the Central Bank of Azerbaijan (CBA) Taleh Kazimov said during the event on 'Growth prospects for a changing global economy',Trend reports.
According to him, cashless transactions in Azerbaijan amount to 40 percent of the total turnover.
"The growth of bank card in Azerbaijan amounted to about 50 percent, the number of transactions on them increased by 2-3 times," Kazimov stated.
He noted that CBA plans to increase the security of payment cards and payments, as well as increase financial awareness.
"Central Bank is working on creating a strategy for financing financial and non-bank organizations. Moreover, together with International Finance Corporation (IFC) work is being carried out on a project to buy out the credit debt," the chairman informed.
Kazimov stressed that it's necessary to create mechanisms to protect the rights of consumers of financial services.
"Here it's about the creation of local credit rating agencies, as well as other departments that regulate these issues," he added.