Baku - Between 14-18 June 2022, IOM Azerbaijan conducted expert assessment interviews with government agencies, banks and non-governmental organizations, as well as focus group discussions in the framework of the “Enhancing the Socioeconomic Benefits of Remittances in Azerbaijan” project.

Leading research team met and interviewed 45 high-ranking officials and experts of the State Migration Service, Central Bank, Financial Monitoring Service, State Committee on Work with Diaspora of the Republic of Azerbaijan, Lankaran City Executive Authority, Azerpost LLC, International Bank of Azerbaijan (ABB), Kapital Bank, Bank Respublika, and Rabitabank. Meetings shed a light on situation related to money transfers to/from Azerbaijan, and on relevant regulations, policies, restrictions, existing practices pertaining to money transfers, challenges, opportunities for digitalization of remittances, as well the socioeconomic indicators of Azerbaijani migrants abroad and migrants in Azerbaijan, access of remittance receivers and senders to financial infrastructure, and level of their financial inclusion.

Furthermore, focus group discussions were organized in Baku and Lankaran with family members of Azerbaijani migrants abroad. These cities were selected in accordance with the data of the State Statistical Committee of the Republic of Azerbaijan on volume of remittances sent to different regions of Azerbaijan. During discussions 21 remittance receivers shared their experiences on money transfers.

On the occasion of the remittance day 16 Jun, online survey (https://bit.ly/3tIoHWv) has been launched to capture remittance practices of Azerbaijani migrants abroad. Migrants in Azerbaijan are invited to contribute to project via filling-out questionnaires, which can be obtained at branches of major banks and post offices across country.

Data gathered through these methods will be used to assess governments’ policies, strategies, and regulations, as well as the existing infrastructure, technology, and models pertaining to digital money transfers. Report to be prepared will also make recommendations tackling legal, social, economic, and gender gaps regarding the growth of digital remittances and adjacent financial services.

Overall objective of the 2-year project is to contribute towards greater financial inclusion and use of digital financial services among Azerbaijani migrants abroad and migrants in Azerbaijan, and remittance recipients in Azerbaijan and abroad how to support sustainable livelihood development. This project is implemented with funding from IOM Development Fund and in cooperation with the State Migration Service of the Republic of Azerbaijan.

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