When we look at the World Bank's Fintex indicator for Azerbaijan, we see that the ownership of bank accounts in the country has increased. A few years ago it was 30 percent, but now it has reached 50 percent. Digital payments have increased in Azerbaijan, and a lot of work has been done on non-cash payments, World Bank Regional Manager for Azerbaijan Sarah Michael said at the panel discussion of the conference on "Towards 2030: Socio-Economic Inclusion in Azerbaijan" within the framework of the UN Sustainable Development Goals (SDG) Dialogues initiative, APA-Economics reports.
500 thousand wage employees in Azerbaijan do not have bank accounts, it is important to open their bank accounts. Also, 200 thousand people in Azerbaijan still pay their utility bills in cash. The government implements incentive mechanisms such as "VAT refund". Such steps can increase financial inclusion.
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