BAKU, Azerbaijan, April 12. The simplification of money transfers is a priority for the work of the International Organization for Migration with partners in Azerbaijan, consultant of the international organization for Migration Anna Prokhorova said during the “Strengthening the social and economic effect of remittances in Azerbaijan” event in Baku, Trend reports.

According to her, international central banks are still working in this direction to comply with global standards for money transfers.

“We are aware that the Azerbaijani Central Bank is also conducting large-scale work to facilitate local and international money transfers, which will ultimately lead to positive results. In addition, we are cooperating with the Central Bank of Azerbaijan on projects to ensure the availability of finance in remote areas, as well as the availability of finance for migrants,” she said.

“So, for example, we believe that in remote areas where there is no wide coverage of banking services, it is possible to create mobile banking offices, as well as automated chatbots that can solve financial issues without contacting the bank,” she added.

In turn, the representative of the Azerpost said that almost all post offices (1,250 out of 1,500) are licensed to provide financial services.

“There are not a lot of requests for money transfers in post offices, while in remote areas there are hardly any. We are working to expand our services, including alternative remittances,” he said.

It was also noted that the annual inflow of foreign currency into Azerbaijan from abroad is $3.6 billion, while the outflow of foreign currency from abroad is $700 million.

Source: TREND News Agency