Ruslan Talibov: Share of non-cash transactions in Azerbaijan reaches 54%

11:55 - 26.10.2023

October 26, Fineko/abc.az. The sphere related to fintech is developing in Azerbaijan.

ABC.AZ reports that Azerbaijan Fintech Association’s chairman Ruslan Talibov said about this at the Baku Fintech Forum 2023 event in Baku.

He noted that the share of non-cash transactions in Azerbaijan reached 54%.

"Over the past 8 months, non-cash payment turnover in our country amounted to $56 billion, of which about 90 percent accounted for debit cards. One of the most progressive steps taken in this area is the adoption of the law. The bill will come into force on November 9, and within six months after that, licensing processes for companies in this sector will be carried out," Talibov stressed.