One of the main priorities of the Central Bank of Azerbaijan (CBA) is protecting market participants' rights, ensuring equal conditions, and creating a healthy competitive environment, Fuad Sabziyev, director of the Payment Systems and Settlements Department of the CBA, said at the Turan E-commerce and E-export Forum held in Baku, Report informs.
According to Sabziyev, currently, more than 20 companies providing payment services have received operating licenses and connected to the system, continuing their activities in Azerbaijan.
Sabziyev noted that the integration of fintech companies and other payment service providers into the system is carried out in accordance with the CBA's strategic approach. "We have applied a special regulatory regime to control their activities and ensure the provision of new products and services in accordance with market requirements. Under this regime, the CBA not only supports the joining of new organizations to the system and their market activities but also stimulates their development and expansion of product range."