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.
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