In Azerbaijan, the choice of bank for receiving salary will become available in 3-4 months

The Central Bank of Azerbaijan (CBA) plans to carry out labor debureaucratization in the banking sector in the coming months.

As reported by BAKU.WS with reference to Report, this was stated by CBA Chairman Taleh Kazimov at a press conference in Baku.

According to him, bank expenses are growing: "On one hand, inflation has been high in recent years, and on the other hand, we have put forward additional requirements to ensure stability in this sector. In particular, unprecedented requirements have been put forward for information technology infrastructure, as well as in the field of cyber and information security. Also, the growth of state-regulated prices affects bank expenses. Additionally, competition is strong, which will also have an impact on interest rates."

"Our main goal is to ensure integration with the Ministry of Labor and Social Protection of the Population so that employees of both the public and private sectors can receive their salaries at the bank of their choice. At the next stage, this will also extend to pensioners, particularly covering the city of Baku and the Absheron district. Overall, we aim to simplify this process as much as possible for citizens, so it is necessary to carry out the relevant work both in terms of IT infrastructure and software. I believe that we will achieve this within 3-4 months," he noted.