12:18 - 6.09.2023

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September 6, Fineko/abc.az. The market of Azerbaijan and CIS countries may be favorable for Turkish fintech.

ABC.AZ reports that Ruslan Talibov, the chairman of the Association of Physical Technologists of Azerbaijan, stated about this at the Azerbaijani-Turkish Fintex forum held in Baku.

He added that the Turkish market can play an important role for Azerbaijani fintech companies on the same principle. Stressing that both countries’ cooperation with fintech companies will be interesting in the future, Talibov recalled the new law on fintech recently adopted by the Central Bank of Azerbaijan.

He emphasized that after the new law, fintech companies will already be able to carry out some banking operations: "For example, fintech companies will be able to transfer money, give loans, render some banking services. This, of course, will lead to development of fintech as a banking sector."

By Elmir Murad