New project to serve to creation of competitive environment between banks - Ibrahim Alyshov


November 6, Fineko/abc.az. Together with the World Bank’s experts we’ve achieved the development of the project of payment systems and payment services.

ABC.AZ reports that the statement was made by Financial Market Supervision Authority’s (FIMSA) chairman Ibrahim Alyshov at the IV International Banking Forum "Cashless Economy: Towards Sustainable Banking".

He announced the purpose of the project and noted that the new project will serve to regulate the market and create competitive environment:

"This law consists of 9 chapters and 72 points. The law has already been discussed several times with the relevant government agencies. The law is at the final stage, and we think that we will submit it to the Cabinet of Ministers before the end of the year. According to this law, standard legal acts should be formulated. To this end, 4 standard acts were discussed by the WB experts."

By Elmir Murad