A meeting was held at the Central Bank with the delegation of the SWIFT organization, including representatives from commercial banks and financial institutions. In addition, electronic money organizations connected to the SWIFT system also participated in the meeting. During the meeting, current and future activity programs of the SWIFT organization, its strategic goals, as well as the objectives set by G20 countries regarding cross-border payments were discussed.
Vusal Khalilov, Deputy Chairman of the Central Bank, delivered a speech discussing the ongoing reforms in payment systems and strategic priorities. He emphasized the importance of financial institutions and strategic partners paying special attention to the initiatives outlined in the "Financial Sector Development Strategy for 2024-2026." He also highlighted the significance of electronic money and payment organizations licensed by the Central Bank joining the SWIFT network as a key indicator of the development of the fintech sector and the beginning of the next phase in the financial system.
During the meeting, there was an extensive exchange of views on the dynamics of payment transactions, the current state of the national payment infrastructure, the work done regarding the transition to the ISO 20022 international standard, and the prospects for the development of payment services.