Baku, Azerbaijan, Feb. 17
By Huseyn Valiyev - Trend:
Lack of legal framework is an obstacle for launching the mobile financial services (MFS) in Azerbaijan, a source on the telecommunication market told Trend Feb. 17.
The source said that today both banks and mobile operators are greatly interested in launching MFS in Azerbaijan.
"It is not ruled out that if the banks and mobile operators unite efforts to launch co-branded cards, this will be the basis for further development of MFS service," the source said.
The MFS service allows to get access to the bank accounts through mobile devices, make transfers and pay for different services (Internet, utilities, TV services, mobile and fixed telephony).
The source said earlier that the Central Bank of Azerbaijan (CBA) is preparing a bill on rendering MFS. The appropriate regulatory bodies and mobile operators of Azerbaijan are involved in the preparation of the bill.
The mobile operators have already started to develop a platform to render these services to their subscribers. The details will be available after this sphere is legally regulated.
...
