The Center for Analysis of Economic Reform and Communication, the Central, Bank and the Association of Banks of Azerbaijan jointly organized an online conference titled "The Role of Financial Institutions in the Development of the Digital Ecosystem." The conference discussed the role of cooperation in the development of the digital environment in Azerbaijan, the importance of the formation of a unified ecosystem, challenges and prospects in this direction.

Delivering an opening speech, Executive Director of the Center for Analysis of Economic Reforms and Communication Vusal Gasimli provided broad information on development directions of the digital ecosystem in Azerbaijan, the President’s digitization policy, and reforms. He noted that the scope of digitalization is expanding in e-banking, healthcare, and other areas through the use of communication services. According to his words, today the country is transitioning from e-government to digital government, from reactive services to proactive services, which is an important issue for economic and social development.  V.Gasimli also told about the measures taken to create a digital ecosystem in the liberated territories. Speaking about world trends, statistics, and forecasts, the Executive Director noted that Azerbaijan also has a share in the expanding development potential of digitalization in the global arena.

Director-General of the Central Bank of Azerbaijan Farid Osmanov, President of the Association of Banks of Azerbaijan Zakir Nuriyev, CEO of Pasha Bank Taleh Kazimov also spoke about the contribution of digitalization of banks and the application of innovative solutions to the development, as well as the current situation and prospects in the banking sector.

Head of the Digital Trade Hub of Azerbaijan (DTH) Masuma Talibova made a presentation on the portal. She spoke about the e-services provided to users through the Portal, as well as about the positive impact of local and international cooperation of the Portal on the development of the digital ecosystem. At the same time, there was made a presentation on the integration of the DTH and Central Bank to the Bank Market Platform and new function.

M-resident of the Portal Koral Turkkan, who opened a bank account remotely for the first time through the DTH, told that despite living abroad, he was able to easily operate his business in Azerbaijan using the DTH. He also mentioned that the services provided by the porta were useful. At the same time, he emphasized wide opportunities that new function provides. Created in a Marketplace Format, this function presents a wide range of banks to select. As a result, it becomes easier to choose the bank with the branch located in the country of a user.

The second part of the event continued with informative speeches of the participants of financial institutions on the current state, challenges, and prospects of the sector. In the end, there was an interactive question and answer session with the participation of 100 people. Questions were related to the digitalization of the banking sector and the use of digital solutions.