15:40 - 4.11.2023

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November 4, Fineko/abc.az. The requirements that must be met by suppliers in the provision of relevant services, their rights and obligations are regulated by law.

ABC.AZ reports that Gunay Mahmudova, Senior Legal Adviser of the Department of Legal Support of Financial Markets of the Legal Department at the Central Bank of Azerbaijan, informed about this.

"One of the innovations in the new bill concerns open banking, which has been in the spotlight for many years. We, as the supervisory authority, sought to investigate and study the relevant issues. It is gratifying that after the Law on Payment Organizations & Payment Services comes into force, it will be possible to introduce an open banking regime in our country, which will create conditions for new organizations to enter the market," she emphasized.