Azerbaijan needs to ensure efficient online opening of bank accounts - ABA head

14 April 2021 16:14 (UTC+04:00)

By Trend

Azerbaijan needs to ensure effectiveness of the procedure for online opening of a bank account, the Head of the country's Banks Association (ABA) Zakir Nuriyev said.

Nuriyev made the remark at ‘Role of Financial Institutions in Development of Digital Ecosystem’ online event, Trend reports on Apr.14.

“According to statistics, approximately 21 percent of all transactions with payment cards in Azerbaijan are carried out in a non-cash form. By the end of 2020, the turnover of e-commerce amounted to 3.7 billion manat ($2.18 billion),” the head of ABA said.

“In order to form a digital ecosystem that meets international standards, it’s necessary to improve the online contacts between banks and their customers and to ensure the effectiveness of the procedure for opening a bank account in this format,” he added.


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