16:27 - 30.10.2024

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October 30, Fineko/abc.az. The regulatory and legal framework of payment systems will be modernized in Azerbaijan.

ABC.AZ informs with reference to the CBA that the statement was made by department general director Vusal Khalilov in an interview for P.I.T. Exchange.

He noted that increasing the incentive for digital payments is one of the main priorities, and added that the Central Bank is upgrading its infrastructure in order to manage the increase in transaction volume and improve user interaction.

Khalilov added that the CBA has improved the instant payment system, works closely with commercial banks in this direction, and stressed the importance of setting high standards to encourage industrial innovation.