BAKU, Azerbaijan, July 7. Visa and the Central Bank of Azerbaijan (CBA) are discussing the integration of the digital manat into the Visa network in Azerbaijan, Vice President and Regional Manager of Visa in Central Asia and Azerbaijan Kristina Doros told TurkicWorld.
According to her, Visa and the Azerbaijani bank are conducting an open and constructive dialogue to find suitable formats of interaction and cooperation.
"The issues of conditional integration of the digital manat into the Visa network are currently under discussion," she added.
Doros also noted that the governments and central banks of many countries are working on the creation of a national digital currency. Together, they are trying to identify and create a suitable infrastructure for digital money and understand the directions of their application.
"The Central Bank of Azerbaijan, like others, is working now to answer important questions: what should be the infrastructure, architecture of the solution and how will it be used? How will the CBA, as an issuer, interact with commercial banks? We, as Visa, are conducting an open and constructive dialogue with the CBA in order to find suitable formats for further interaction and cooperation on these and other issues," Doros added.
The CBA, in cooperation with international think tanks, financial organizations and banks, is working on the development of a national digital currency. The CBA is actively monitoring the role of digital currency in monetary policy and transmission.
In the field of digital manat development, the CBA is working with the International Monetary Fund. Step-by-step work is underway to form the concept of this currency, as well as research to assess possible risks.
-
