11:41 - 17.12.2024

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December 17, Fineko/abc.az. The Central Bank is working on development of a digital currency.

ABC.AZ reports, citing Sahib Hasanov, the head of the CBA Special Regulatory Regime Department, as saying his at a training on raising awareness about financial technologies.  

He added that more than 100 countries are currently working in this direction. 

"Perhaps if we use a digital currency, then 1 manat will have to be equal to 1 digital currency. We are analyzing this now. We do not know about impact of this digital currency, so we study other countries’ experience and closely monitor it. We mainly consider the Kazakh experience. We see a positive result, and therefore we are studying its application. Naturally, there are also negative consequences. For example, the Nigerian experience is unsuccessful. We don't want to rush it. We want our digital currency to have positive impact on the financial sector," Hasanov said.