Central Bank launches ‘Storage and retrieval system for financial products and services’

28-06-2019

28 June 2019, Baku: The Central Bank launched the ‘Storage and retrieval system for financial products and services’ developed  in accordance with the requirements of the ‘Increasing knowledge and skills of financial market participants’ target of the ‘Strategic Roadmap on Development of Financial Services’ approved by Decree# 1138 of the President of the Republic of Azerbaijan dated 6 December 2016 and the ‘State Program on expansion of digital payments in the Republic of Azerbaijan for 2018-2020’ approved by Decree# 508 dated 26 September 2018.

Users can access the system from both their PCs and mobile devices through axtar.bizimpullar.az.

As a part of the Financial Literacy portal, the system allows users to get financial products related information from a single source, select a favorable product or service through comparison and make rational decisions during selection. The system will also contribute to easing access of the population to financial services and stimulate use of these services, boost competition in the financial services market, making introduced products and services qualitative and improve their conditions.

The banks that have joined the system place to the system and regularly update information on key financial products (e.g. savings, loans, payment cards etc.), branches and divisions, payment terminals and other services (conditions and tariffs).

The Central Bank will further continue efforts to integrate all banks to the ‘Storage and retrieval system for financial products and services’.