Central Bank of Azerbaijan prepares to launch Financed Invoices Registry System (PHOTO)

BAKU, Azerbaijan, August 18. The Central Bank
of Azerbaijan (CBA) is preparing to launch the Financed Invoices
Registry System (FIRS).

The CBA held a presentation on the establishment of the system
with the participation of representatives from banks and non-bank
credit organizations (NBCOs).

According to the CBA, the event focused on testing the system’s
operation in a pilot mode and its initial launch with limited
functionality.

During the presentation, participants discussed in detail the
current operating mechanism of the FIRS, its functionality, as well
as the scope of information planned to be collected through the
system.

The Central Bank also presented the relevant technical
specifications developed to ensure the integration of banks and
NBCOs into the FIRS.

In addition, banks and NBCOs were informed about the need to
complete the necessary technical measures for integration into the
system within the established timeframe.