Azerbaijan continues work on creation of a digital currency

CBA General director Farid Osmanov

© APA | CBA General director Farid Osmanov

# 24 November 2022 13:29 (UTC +04:00)

Central Bank of Azerbaijan (CBA) continues works on creating digital manat, CBA General director Farid Osmanov told APA-Economics.

“Currently, we continue the analysis works regarding the digital manat. We follow the processes such as other central banks and think tanks. The International Monetary Fund has a technical assistance project in this regard,” Osmanov noted.

Farid Osmanov also added that creating digital currencies is a long process: “We have such expectation that we should create a digital currency, soon. Even, though several countries started the process 7 years ago, has not finished the work, yet. Thus, it’s hard to say when the digital manat will be ready.”