16:03 - 16.06.2022

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June 16, Fineko/abc.az. Currently, there are more than 20 FinTech companies operating in Azerbaijan, most of which are engaged in payments, loyalty and the sale of services, ABC.AZ quotes Azerbaijan Fintech Association’s chairman of board Ruslan Talibov.

He emphasized that the adoption of the law in the field of payment services will open up a wide range of opportunities for FinTech market in Azerbaijan:

"There are a number of expectations from FinTech companies for the development of the FinTech industry in the country. If in the future, after the adoption of the law in the field of FinTech, along with servicing accounts of individuals, opportunities related to legal entities will be provided, this will allow FinTech companies to offer various services. The adoption of payment services as financial resources in the future will exempt the services provided by FinTech organizations in our country from VAT, which will allow FinTech compaies to save financial resources."