Azerbaijan may complete developing "digital manat" concept by late 2022

Director General of the Central Bank of Azerbaijan (CBA) Farid Osmanov plans to complete the development of the "digital manat" concept by the end of 2022.

"Many central banks are analysing digital currencies. The Central Bank of Azerbaijan has also intensified this process and continues preparing the 'digital manat' concept with technical assistance from international organisations. We plan to form a concept as soon as possible," Osmanov told Report.

Along with the Azerbaijani commercial banks, Azerpost LLC under the Azerbaijani Digital Development and Transport Ministry was also involved in the development of the "digital manat" concept.