BAKU, Azerbaijan, May 18. PASHA Bank will increase investments in the cybersecurity sector, Javid Guliyev, CEO and Chairman of the Executive Board of PASHA Bank, told Trend.
According to the CEO, Cybersecurity Strategy in Financial Markets, which was adopted on April 1, 2023, by the Central Bank of Azerbaijan, undoubtedly determines the need for further investments in this sector.
"PASHA Bank pays great attention to the cybersecurity sector and does it in two directions: compliance with the requirements of the bank and international payment systems, as well as the application of best global practices. Using international practice, we are working on improving the software and working with consultants, and due to this we are constantly developing work in the direction of cybersecurity," Guliyev said.
On top of that, Guliyev expressed the bank's readiness to invest and increase investments in this direction, adding that the new strategy adopted by the bank will certainly require further investments in human capital, in the software base, and in the skills that are necessary for managing these systems effectively.