BAKU, Azerbaijan, November 24. Introduction of cybersecurity strategy elements in Azerbaijan’s financial sector will start in 2023, Executive Director at the Central Bank of Azerbaijan (CBA) Farid Osmanov told reporters on November 24, Trend reports.
According to Osmanov, the CBA plans to complete the development of a preliminary version of this strategy before the end of 2022.
"Issues of ensuring cybersecurity are in the spotlight. The strategy will be designed for three years," he said.
The executive director stressed that the CBA is continuing consultations on the introduction of the digital manat.
"The Central Bank of Azerbaijan is cooperating with the International Monetary Fund (IFC) on this issue. It’s also necessary to assess how the introduction of digital manat will affect inflation," Osmanov noted.
He also noted that proposals have been prepared to amend the law ‘On the Central Bank’.
"These amendments envisage the empowerment of the bank to provide support to fintechs," added the executive director.