Central Bank holds training on payment services regulatory framework

28-02-2025

28 February 2025, Baku: The Central Bank continues to organize training and briefing sessions for media representatives to raise awareness in the field of central banking and finance.

In this context, the next initiative was to hold a training session on the regulatory framework for payment services.

The training, which took the form of a joint discussion, provided detailed information on the main legal framework for payment services and payment systems, the services provided by payment institutions, electronic money institutions and payment system operators, and the process for their regulation and supervision. Head of Payment Services and Payment Systems Activity Regulation Division of the Central Bank Khayaladdin Tagiyev also addressed issues, such as the differences between payment system operators and payment service providers, requirements for the activities of foreign payment service providers and payment system operators in the country, assessment of the impact of fintechs on the banking system, and their application in the payments market.

Questions of the attendees on the presented topics were answered during the training.

Mr. Taleh Kazimov, Governor of the Central Bank, met with the media representatives at the end of the training.