A new methodology for security system will be implemented at the Central Bank of Azerbaijan (CBA).
As CBA stated, the technology must conform to ISO 27001:2013. The system should also provide stability in emergency situations and disaster recovery plans.
For this purpose, a tender was announced, in which companies with experience of such systems in banks and large financial institutions can take part. The applicants must have experience in implementation of at least two similar projects in the past five years.
Under the terms of the tender, the methodology should be ready within 150 calendar days from the date of conclusion of the contract with the winner. Stamp duty for participation in the tender is 150 manat.
Call for tenders on the tender until August 8, tender evaluation - August 11. - 17D-
Economics
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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In its latest Transition Report covering 2024–2025, the European Bank for Reconstruction and Development (EBRD) highly praised Azerbaijan's efforts in digital transformation and cybersecurity. The Bank noted that investments in digital networks have led to significant infrastructure improvements, including a one-third increase in internet speed over the past year.
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Azerbaijan’s Finance Ministry reported on Thursday that the country’s public debt, including domestic and external obligations, amounted to AZN 26.201 billion ($15.4 billion) as of October 1, 2024, equivalent to 21.6% of GDP.
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