Finance

Home page

Finance

CBA: Fintech turnover in Azerbaijan nears AZN 39 billion

Deputy Chairman of the Central Bank of Azerbaijan (CBA) Vusal Khalilov

09 October 2025 10:45 (UTC +04:00)

The turnover of licensed fintechs in Azerbaijan has exceeded 38.8 billion manats, said Deputy Chairman of the Central Bank of Azerbaijan (CBA) Vusal Khalilov during his speech at the “Baku Fintex Forum 2025,” APA-Economics reports.

He noted that this figure is expected to increase further.

V. Khalilov also added that the monthly card turnover has reached 10 billion manats. This is an example of the transition to cashless payments.

“The Central Bank of Azerbaijan continues its efforts for the development of the fintech sector. Increasing the level of usage of the Instant Payment System is important in this regard. The implementation of the open banking system has already started in Azerbaijan, and two banks have begun working in this area,” the Deputy Chairman added.

Rahim Tariverdiyev

Fintech Azerbaijan Central Bank Baku Fintex Forum 2025 Vusal Khalilov Digital Payments Cashless Payments Card Turnover Open Banking Instant Payment System Fintech Growth Licensed Fintechs Financial Technology Fintech Ecosystem Banking Innovation