12:09 - 4.12.2024

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December 4, Fineko/abc.az. The Central Asian Fintech Association and the Association of Banks of Azerbaijan are negotiating the signing of a partnership and cooperation agreement.

ABC.AZ informs that chairman of the Central Asian Fintech Association Otabek Nasyrov said about this at the VIII International Banking Forum.

"I see great prospects in the development of fintech and the Azerbaijani market, including the financial services sector, which includes traditional banks. Two weeks ago, I was pleased to read an article where a representative of the Central Bank of Azerbaijan noted that bureaucratic barriers are now being actively eliminated so that foreign players, including fintech companies, can enter the market. In addition, this article sent a clear message that the Central Bank of Azerbaijan is interested in increasing competition. This approach is actually a call for foreign fintech companies to come to the country, open payment organizations here, provide various services and develop new products," Nasyrov said.

According to Nasyrov, competition is the main engine of the economy.