Azerbaijan's Central Bank not planning to date to issue digital currency

BAKU. July 31 (Interfax) - The Central Bank of Azerbaijan (CBA) is not currently considering the possibility of issuing a digital currency, though the regulator is looking into the experience of banks in other countries in this area, CBA Governor Taleh Kazimov said.

"We are not currently planning to issue a digital currency. The project is very interesting from a technological point of view, and we look into it regularly and are monitoring other central banks to see the results that they have achieved, because there are questions about both monetary policy and the stability of the financial sector," Kazimov said on Wednesday during a press conference on mainly the key rate.

Kazimov said that the central banks in other the countries have not had a single successful project in the area to date, and that all the projects are pilot projects.

"We are ready to return to the matter once we have received answers to our questions regarding monetary policy and the stability of the financial sector," Kazimov said.