BAKU, Azerbaijan, May 6
By Sadraddin Aghjayev - Trend:
The Association of Financial Technologies (AzFina) and the Central Bank of Azerbaijan (CBA) are developing a bill on regulation of the activity of payment systems, AzFina chairman Ruslan Talibov told Trend on May 6.
"The provisions of the new bill will cover regulation issues in the field of payment services, including the rights and obligations of participants, the legal framework for the activity of payment organizations, payment system operators," Talibov said.
“The regulation of the safe and efficient operation of payment systems, legal and economic framework for control over the providers of payment services and systems will be ensured,” AzFina chairman said.
“Moreover, AzFina is negotiating with the international organizations to expand the development of the country's segment of financial technologies,” Talibov said.
Today AzFina members are eManat, MillliÖn, Hesab.az, Paynet, FynDaynamex, Portmanat, ePul, PulPal payment systems and a number of others.
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