Central Bank signs Memorandum of Understanding with Visa

30-07-2019

30 July 2019, Baku: The Central Bank of the Republic of Azerbaijan and the Visa International signed a Memorandum of Understanding to determine directions for mutual cooperation as part of implementation of the actions specified in the ‘State Program on expansion of digital payments in the Republic of Azerbaijan for 2018-2020’.

The Parties of the Memorandum agreed to cooperate on development of e-trade, mobile payments, and introduction of innovative payment tools across industrial areas and raising financial literacy. Both organizations are also planning to hold joint lotteries in Baku and regions to stimulate cashless payments, promote digital payments and state-of-art payment solutions and maintain analyses on the current situation by the end of 2020.

The Central Bank always supports any initiatives on development of e-banking and digital payments and introduction of innovative financial technologies in the country and attaches great importance to launching cooperation with international organizations.