Baku - The representatives of IOM Azerbaijan participated at the VI International Banking Forum organized by the Azerbaijan Banks Association, Central Bank, and Center for Analysis of Economic Reforms and Communication on 24-25 November 2022.

IOM Azerbaijan’s international consultant, project’s research team lead, Ms. Anna Prokhorova has presented “Enhancing the Socioeconomic Benefits of Remittances in Azerbaijan” project implemented by the IOM Azerbaijan with the support of the State Migration Service and funding from the IOM Development Fund during the panel discussion of the conference on "Payments: Moving From Easy To Super Fast And Super Seamless". She presented the findings of the assessment on the government's policies, strategies, and regulations, as well as the existing infrastructure, technology, and models pertaining to digital money transfers conducted in the framework of the project. Furthermore, during her speech, recommendations regarding the growth of digital remittances and adjacent financial services were given.

The Forum, which lasted for two days, was attended by more than 1000 participants representing government agencies, commercial banks, and businesses, including fintech companies, international financial institutions, and non-governmental organizations from the USA, Turkey, European Union, CIS, Middle East, and other countries.

The 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 the IOM Development Fund and in cooperation with the State Migration Service of the Republic of Azerbaijan.