BAKU, Azerbaijan, August 6. The Central Bank of Azerbaijan (CBA) discussed in detail the main trends and priorities for the development of the fintech ecosystem for the first half of 2025, Trend reports via CBA.
Thus, Deputy Chairman of the Central Bank Vusal Khalilov held a regular meeting with representatives of the Azerbaijan Fintech Association. During the meeting, the main trends and priorities for the development of the fintech ecosystem in the first half of 2025 were discussed in detail.
In addition, the participants were informed about the expansion of the scope of application of the Instant Payment System and the expansion of access for fintech entities to innovative solutions through this system, as well as ensuring full compliance of the activities of electronic money and payment organizations with legislative requirements in the field of AML/CFT and information security, and effective compliance risk management.
The meeting also included an exchange of views on opportunities for improving and implementing a special regulatory regime, work being done in the field of open banking, and the preparation of a draft law regulating the activities of virtual assets and their providers.