Azerbaijan's CBA talks timeframe for completion of work on open banking roadmap

By Trend

The work on an open banking roadmap is likely to be completed in Azerbaijan in May 2021, Director General of the Central Bank of Azerbaijan (CBA) Farid Osmanov said.

Osmanov made the remark at the press-conference, Trend reports on April 30.

“The law 'On payment systems and payment services' also covers the issues related to the formation of an open banking infrastructure in Azerbaijan in accordance with standards of payment systems in Europe,” the director general added.

"In this sphere, the CBA is cooperating with the International Finance Corporation (IFC)," Osmanov said. “The final version of the roadmap will be coordinated with the CBA and disclosed for the public soon.”