Azerbaijan may introduce digital manat

The Central Bank of Azerbaijan (CBA) has all the resources and opportunities to introduce digital manat, the CBA governor Taleh Kazimov said during a press conference.

According to him, the СBA is primarily aimed at modernizing and optimizing the national payment system.

Speaking about why the digital manat has not yet been introduced, Kazimov noted that studies on the impact of digital currency on financial stability and monetary policy haven't yet been completed.

"Of course, digital currency has certain risks that can affect the economy, including the need for a large amount of electronic resources," Kazimov said.

The official also noted that despite having all the resources and opportunities to introduce a digital manat, the CBA is focused on modernizing and optimizing the national payment system, and only then it will start introducing innovations.

Kazimov also emphasized that the CBA monitors trends in this field, study experience of other countries and leading organizations.