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Azerbaijani fintech companies enter foreign markets

Business Materials 26 October 2023 12:28 (UTC +04:00)
Azerbaijani fintech companies enter foreign markets
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, October 26. Currently, five Azerbaijani fintech companies have entered foreign markets, chairman of the Azerbaijan Fintech Association (AzFina) Ruslan Talibov told reporters, Trend reports.

"The most progressive step in this area is the passage and enactment of the bill. Once this legislation comes into force, the sector is expected to see a major boost. The Central Bank of Azerbaijan is currently drafting licensing regulations. We are also closely cooperating in this process," he emphasized.

The draft law "On Payment Systems and Services" was approved in August this year and is expected to come into force on November 9.

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