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Wednesday, June 28, 2017

Central Bank of Azerbaijan hosts seminar on non-cash transactions

The Central Bank of the Republic of Azerbaijan's Research and Development Center recently held a seminar in conjunction with Azerbaijan State Economic University on the topic of "Non-cash transactions: international and local experience."

Non-cash transactions consist of investing or financing activity that does not affect the cash inflows or outflows, but involves only equity or long-term assets and liabilities.

A master's student from the university delivered a presentation on reforms being made to non-cash settlement payment systems by the central bank.

Azerbaijan State Economic University, in collaboration with the Central Bank of the Republic of Azerbaijan, is also due to make a presentation on the expansion of non-cash payments.

Azerbaijan completed its post-Soviet transition into a major oil based economy with the completion of the Baku-Tbilisi-Ceyhan Pipeline.

The country is now interested in cooperation with Tatarstan in the development of the non-oil sector, AzerNews reports.