Azerbaijan has assumed the role of the main banking and financial center in the region, Chairman of Azerbaijan Banks Association (ABA) Zakir Nuriev said at at the Financial Technology (FINTEX) Summit, which is being held on the topic "New trends in banking and the payment ecosystem: innovative solutions, fintechs and security" in Baku on May 16, Trend reports.
In his words, one of the main drivers to ensure stability and introduction of innovative technologies in the finance and banking sectors is strengthening of the work on the digitalization of these sectors for the intensive development of the cashless economy of Azerbaijan as a whole.
The decree on solving the problem loans of individuals, signed by President Ilham Aliyev, has provided a transition to a new stage of stable development in the sectors of finance and banking.
The main priorities, according to Nuriyev, are to work to expand the possibilities for effective lending to the real sector.
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