ECONOMY


Central Bank, International Card Organization "MasterCard Worldwide" discuss possibilities of cooperation

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Baku, October 9, AZERTAC

The Central Bank and international card organization "MasterCard Worldwide" discussed issues on possibilities of cooperation and strategic directions on the development of non-cash payments in Azerbaijan.

According to the Central Bank, the chairman of the Bank Elman Rustamov met the delegation led by President of "MasterCard" system in Europe, Xavier Perez.

Mr. E.Rustamov spoke of the successful implementation of a number of major projects in Azerbaijan within the cooperation of "MasterCard" with the Central Bank. He noted that, the Central Bank held measures carried out on a regular basis, in order to develop cashless payments and expand coverage. So, this year, Draft State Program, prepared on the basis of international experience, was submitted to the government. The chairman of the Bank also informed about the Draft law on “Payment Services” on expansion of the introduction of innovative payment technologies and access to payment services, strengthening the competitive environment in the market for payment services, as well as increasing of the protection of payment service users.

Expressing satisfaction of his organization with the cooperation with Azerbaijan, Mr. Xavier Perez thanked the Central Bank for successfully continuing of ties. Emphasizing the development of non-cash payments as one of the most important priorities of "MasterCard", the president stressed the importance of close cooperation between the two organizations in this area. As well as, Mr. Xavier Perez highlighted the increasing of interest in the Azerbaijani market and expressed this confidence on increasing of financial and other resources. Noting that he would support the development of non-cash payments in Azerbaijan, Mr. Xavier Perez said that they will cooperate closely with the Central Bank on the development of strategic frameworks, as well as application of leading technologies in the country.

The meeting also discussed prospects of cooperation between the Central Bank and "MasterCard Worldwide", also the development of payment cards market and card infrastructure in the country.

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