The opening ceremony of the "FinTech" laboratory (Fintech Lab) was held at the Azerbaijan Technical University (AzTU) in partnership with the Azerbaijan Fintech Association (AzFina).

The opening ceremony was attended by the Rector of AzTU, Vilayat Valiyev; the Deputy Chairman of the Central Bank, Vusal Khalilov; the Head of the Department for Regulation of Payment Services and Payment Systems at the Central Bank, Khayaladdin Taghiyev; the Chairman of the Board of AzFina, Edgar Abdullayev; and representatives of the university.

It was noted that the "FinTech Lab" aims to instill practical knowledge in financial technologies in students, train qualified specialists currently needed in the financial technologies market, implement joint projects with payment organizations and electronic money organizations operating in the payment services sector, and support increasing financial literacy in the country.

Speaking at the event, the Rector of AzTU, Vilayat Valiyev, highly appreciated this collaboration established with AzFina. He noted that this partnership would be beneficial for the development of university-industry cooperation, as well as for training personnel in line with the demands of the labor market.

Deputy Chairman of the Central Bank, Vusal Khalilov, expressed his satisfaction with participating in this event as the regulator of the financial technologies field. He provided information about the current situation and innovations in the field of financial technologies in our country. Vusal Khalilov stated that at the meeting held on February 11 under the chairmanship of President Ilham Aliyev, the development of digitalization and artificial intelligence was identified as a priority direction, which is also an important development for the financial technologies sector. The Deputy Chairman expressed his confidence that the newly opened laboratory would contribute to increasing the sustainability of the sector by supporting both specialist training and the expansion of financial literacy.

Khayaladdin Taghiyev, Head of the Department for Regulation of Payment Services and Payment Systems at the Central Bank, provided information about the working principles and directions of activity of the laboratory. He also noted that training specialists in line with the financial literacy strategy implemented by the Central Bank would help reduce the existing personnel shortage in the field of financial technologies.

Chairman of the Board of AzFina, Edgar Abdullayev, expressed his satisfaction with the cooperation with AzTU and specifically emphasized the importance of this laboratory in the direction of students developing into professional specialists. Three organizations selected by AzFina – the payment and electronic money organizations "United Payment," "Global Innovations," and "BakuPay" – will serve as mentors in information technology at the laboratory. Additionally, necessary support will be provided by the Central Bank and AzFina in the formation of potential personnel in the field of economics. It is planned that organizations will offer job opportunities to laboratory participants who are successful during their training.

This initiative directly contributes to Sustainable Development Goal 9: Industry, Innovation, and Infrastructure. By establishing crucial technological infrastructure, promoting innovation, and supporting sustainable industrialization through university-industry cooperation, the "FinTech Lab" serves the country's economic development.