Azerbaijani banks allocates 300mln AZN on implementation of financial technologies

Baku. 17 May. REPORT.AZ/ "Over the past five years, Azerbaijani banks have spent about 300 million AZN on the application of financial technologies. 49.8% of this amount have been spent on purchasing new software".

Report informs, Chairman of the Azerbaijan Banks Association (ABA), Zakir Nuriyev said.

"The banking sector and financial markets are in the leading places in the application of information technology," he said.

According to him, there are currently operations with cryptocurrency in Azerbaijan, but the attitude to digital money is unequivocal: "This is comfortable for the users, but it is inconvenient for the state. Cryptocurrency market grows, increases its share, but future is unknown."