DECREE of PRESIDENT of the REPUBLIC of AZERBAIJAN

on approval of the State Program on Expansion of Digital Payments in the Republic of Azerbaijan for 2018-2020

Digital transformation and technological innovations allow fast, easy and effective access to a number of financial services.

The strategic goal of the State Program on Expansion of Digital Payments in the Republic of Azerbaijan for 2018-2020 (hereinafter – the State Program) is to highly expand cashless payments environment among citizens, economic agents and public authorities, minimize the size of cashless circulation eventually strengthening banking sector’s financial resource base. Accordingly, the key strategic priorities include amplification of the institutional and legal base of digital payment services in the country, expansion of the range, quality and coverage of those services by increasing infrastructure capacity and massification of their use.

Wider introduction and use of digital payments will lessen cost of cash and operational expenses of banks and enterprises, which in its turn, will allow broader access of the tax base, as well as the population and enterprises to financial services, strengthen banking sector’s lending and investment capacity, eventually pushing economic growth meanwhile making economic turnover more transparent.

The State Program has been developed in order to implement the actions provided for in the ‘Strategic Roadmap on Development of Telecommunication and Information Technologies in the Republic of Azerbaijan’ approved by Decree# 1138 of the President of the Republic of Azerbaijan dated 6 December 2016 and attain the established implementation indicators.

Being guided by Item 32, Article 109 of the Constitution of the Republic of Azerbaijan, in order to develop and expand electronic payment services in the Republic of Azerbaijan I decide to:

1. approve the State Program on Expansion of Digital Payments in the Republic of Azerbaijan for 2018-2020 (attached).
2. the Central Bank of the Republic of Azerbaijan:
2.1. coordinate implementation of the actions provided for in the State Program approved by Section 1 of the present Decree;
2.2. advise the President of the Republic of Azerbaijan on the progress of the actions provided for in the State Program on an annual basis.
3. the Center for Economic Reforms Analysis and Communication to monitor and assess the implementation of measures provided for in the State Program at the request of the Central Bank of the Republic of Azerbaijan.
4. the Cabinet of Ministers of the Republic of Azerbaijan settle the issues arising from this Decree.

Ilham ALIYEV,
President of the Republic of Azerbaijan

Baku city, 26 September 2018, № 508