The Central Bank of the Republic of Azerbaijan held a seminar on financial literacy at the Institute of Control Systems
03.06.2021 / Conferences, assembliesThe Central Bank of the Republic of Azerbaijan held an educational "Financial Literacy" seminar at the Institute of Control Systems (ICS) on 2 June 2021. The seminar was attended by employees of the Institute of Control Systems of the Azerbaijan National Academy of Sciences and the Central Bank of Azerbaijan. Taking into account the special quarantine regime in our country, the seminar was organized online on the Zoom platform.
Opening the seminar, Executive Director of the ICS Corresponding Member of ANAS Aminaga Sadigov noted that with the deepening of democratic processes in our country, the establishment of free economic relations, there is a great need to improve the financial literacy of the population. A. Sadigov noted that creating an opportunity for the population to freely manage their material and financial resources in the field of economic activity and in everyday life is a positive step, but the lack of knowledge in this area causes a number of problems. Stressing the importance of the seminar in this regard, A. Sadigov said that ICS cooperates with various government agencies in relevant fields.
Then Khumar Huseynova, Head of the Financial Literacy Department of the Central Bank, noted in her speech that the Central Bank of Azerbaijan organizes various educational seminars to increase the level of financial literacy in the country. Kh. Huseynova said that these seminars are aimed at raising awareness of the population about financial products and services, increasing their knowledge and skills for making rational financial decisions. She stressed the importance of the workshop, noting that eliminating financial problems allows people to be more productive in their daily life and work.
Vusal Hasanov, employee of the Financial Literacy Department of the Central Bank, made a presentation on "Financial literacy and e-resources", saying that financial literacy is a combination of awareness, knowledge, skills, attitudes and behavior necessary to ensure stable financial decisions and improve material welfare of people. He noted that the formation of a rational attitude to financial services and products allows one to use them more efficiently and make the right choice. V. Hasanov explained how citizens can use the services and information resources of the Central Bank to solve a concrete financial problem. He also told participants about financial transactions, payments and other issues during the pandemic.
Rauf Agayev, Business Development Manager of the Azerbaijan Bank Training Center, made a presentation on “Responsible borrowing” and noted that financial literacy is very important in terms of making the right decisions. R. Agayev provided the participants with detailed useful information about the peculiarities of monetary loans, the choice of bank, the criteria for determining loan and collateral, and other specifics of loaning.
The workshop also included polls and discussions on topics and answers to questions from the participants.
Note that the seminar will take place from 2 to 4 June 2021. Additional information about the seminar can be found in the "Announcements" section of the isi.az website.