BAKU, Azerbaijan, May 27. The Central Bank of Azerbaijan (CBA) held discussions this week within the joint cooperation with SWIFT (the Society for Worldwide Interbank Financial Telecommunication) on expanding the scope of innovative payment services in the country, as well as providing reliable, sustainable and secure payment solutions, Trend reports.
During the meeting, the current state of the country's national payment infrastructure, work on the transition to the ISO 20022 International Standard and prospects for the development of payment services, current and future SWIFT programs, including the main features of SWIFT solutions, goals, and principles of the customer security program were discussed.
Moreover, the CBA plans to introduce an analogical mechanism of bank deposit insurance for investment companies.
In addition, the bank held a meeting to discuss issues of protecting investors' rights and expanding dispute resolution mechanisms.
One of the key topics raised at the meeting was the need for strict compliance with the legislation and focusing on the methodological guidelines developed by the CBA on consumer complaints in financial institutions.
According to the CBA, Azerbaijan plans, in accordance with its strategy, to focus on reducing the share of debt denominated in foreign currency.
To conclude, this week the Listing Committee of the Baku Stock Exchange decided to delist the securities of Gunay Bank OJSC.
