Baku, Azerbaijan, Sept. 19
By Azad Hasanli - Trend:
The International Finance Corporation (IFC) is starting the implementation of the Electronic and Digital Financial Services project in Azerbaijan.
First deputy chairman of Azerbaijan’s Central Bank, Alim Guliyev, addressing an event in Baku dedicated to launching of the project, said it will be financed by the Swiss State Secretariat for Economic Affairs (SECO).
“Digitization of the economy is one of the main trends in the global economy. The project’s implementation will allow introducing innovative technologies, modernizing the legal framework, and improving the financial literacy of the population in Azerbaijan,” he said.
Guliyev added that digitization is one of the Central Bank’s priorities.
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 loans worth $473 million to the country.