BAKU, Azerbaijan, June 29. The Azerbaijan Financial Technologies Association (AzFina) plans to publish industry reports based on data provided by its member companies, Deputy Chairman Einar Abdullayev said at the "Azerbaijan Digital Financial Agenda" event in Baku, Trend's correspondent reports from the event.
Abdullayev said joint-stock companies are already required to publish their first-quarter financial statements on their official websites each year.
"For closed joint-stock companies and limited liability companies, reporting requirements also exist, but the information is submitted to the Central Bank of Azerbaijan. If necessary, AzFina is ready to provide support in obtaining industry data, including acting as an intermediary in dialogue with the Central Bank.
For its part, AzFina is already working on a project to collect reports from member companies and prepare a unified industry report," he said.
According to Abdullayev, once the report is published, market participants and media organizations will be invited to suggest additional indicators for future editions.
"We will discuss these proposals with companies and strive to include the relevant data in the report. In future industry reports, AzFina plans to publish information on market indicators, including data on money transfers, payments, partner cooperation, turnover volume, and the number of transactions," he said.
