Farid Osmanov: Azerbaijan’s Central Bank considering ways to strengthen cybersecurity aspects

The Central Bank of Azerbaijan (CBA) is considering ways to strengthen cybersecurity aspects, CBA General Director Farid Osmanov said at the panel “Open Banking Rules and APIs: Ensuring Secure Data Exchange and Payment Innovations” as part of the Inmerge Innovation Summit, Report informs.

He noted that open banking will increase financial inclusion: “Presently, open banking exists in Azerbaijan, which has a legal foundation. The concept of ‘open banking’ helps financial institutions expand their ecosystem to better serve customers, quickly and efficiently interact with banking partners and third parties.”