Azerbaijan Central Bank prepares digital transformation plan


May 16, Fineko/ The Central Bank of Azerbaijan (CBA) has announced that it is working over two important projects.

During the financial & technological summit (Fintex Sammit), CBA First Deputy Chairman Alim Guliyev has stated that this is a project on creation of an instant payment system that will allow payments within 5-10 seconds.

"The Bank is also working on the creation of an identification system on the blockchain platform that will give an impetus to improve the quality of services in the banking sector," Guliyev said.

He pointed out that work on a digital transformation plan is also underway with participation of foreign experts.