Meeting on “Special Regulatory Regime” for Fintech Startups Held

A meeting on the “Special Regulatory Regime,” which is of significant importance for the fintech ecosystem, was successfully held with the joint organization of the Central Bank of the Republic of Azerbaijan and the INNOLAND Incubation and Acceleration Center.

During the presentation, detailed information was provided on the purpose of the special regulatory regime, evaluation criteria for applications, and the pilot process, followed by extensive discussions in this direction. The session was both informative and practically useful for startups operating in the fintech sector.

Speakers:
• Sahib Hasanov– Head of Department, Central Bank of the Republic of Azerbaijan
• Vagif Guliyev– Senior Specialist, Central Bank of the Republic of Azerbaijan

The meeting included extensive discussions on existing opportunities for the fintech ecosystem, regulatory requirements, innovation regulation, and future cooperation prospects. A Q&A session was also organized for participants, during which current issues in the field were explained in detail.

President of the Republic of Azerbaijan Ilham Aliyev and the first lady Mehriban Aliyeva have attended the inauguration of the administrative building of E-Government Development Center under the State Agency for Public Service and Social Innovations under the President of the Republic of Azerbaijan.

The head of state cut the ribbon symbolizing the opening of the administrative building.

The President`s Assistant for Work with Law Enforcement Bodies and Military Issues, department head Fuad Alasgarov and chairman of the State Agency for Public Service and Social Innovations under the President of the Republic of Azerbaijan (ASAN Service) Ulvi Mehdiyev informed President Ilham Aliyev and first lady Mehriban Aliyeva of the conditions created in the building.

The building will feature the INNOLAND Incubation and Acceleration Center as well as the IT Training and Education Center.

President Ilham Aliyev familiarized himself with the INNOLAND Incubation and Acceleration Center. INNOLAND is an incubation, acceleration and research center created to develop the private sector, promote innovation and expand the startup movement both in Azerbaijan and beyond its borders.

The IT Training and Education Center is a place where young people will be taught programming, information technologies, and coding skills.

President Ilham Aliyev and first lady Mehriban Aliyeva then viewed innovative projects here.

President Ilham Aliyev and first lady Mehriban Aliyeva were also informed of the new development concept of e-government.

In "INNOLAND" Incubation and Acceleration Center the seed round investment made into the "Nextsale" and "Whelp" startups, participants of the winter acceleration program of the SUP "Startap Accelerator.

The investment in these startups was implemented jointly by the "Azfinans" Investment Company, the "Next Step" Innovation Center and Khazar Ventures.