Electronic and Digital Financial Services in Azerbaijan and Central Asia

Projekt abgeschlossen

The Azerbaijan and Central Asia Mobile Money Project (ACAMM) seeks to improve financial inclusion and financial resilience by increasing access to low cost mobile financial services to the un(der)banked. ACAAM is implemented by the International Finance Corporation and co-funded by the UK's Department for International Development (DFID).

Land/Region Periode Budget
01.06.2017 - 31.12.2021
CHF  2’732’000

Remote and challenging geographic territories, sparsely populated rural areas and weak infrastructure makes it little profitable for financial institutions (FIs) to maintain a wide branch network in the region, leading to very low financial penetration, particularly in rural areas. FIs often lack the knowledge on innovative products or delivery channels. These factors leave much of the population un(der)banked and without any possiblity of establishing a formal channel to make and receive payments, to rely on a bank account or to get bank credit. This in a region where both, remittances and mobile phone penetration are high.


The main objective of the ACAMM project is to facilitate financial inclusion of the currently un(der)banked population and to redirect domestic and international remittances flows into the formal financial system through the establishment of effective and sustainable Mobile Money solutions. Recent research suggests that inclusive and efficient financial markets have the potential to improve the lives of citizens, reduce transaction costs, spur economic activity, and improve delivery of other social benefits and innovative private-sector solutions. Mobile Money has been introduced in a number of developing countries across the globe. Yet, for this region the ACAMM project is a novelty and serves as a pilot.

Mittelfristige Wirkungen

Legal and regulatory work: Support will be provided to establish a sound legal and regulatory environment conducive to the further development of Mobile Money and related electronic and digital financial services. Laws and regulations will be harmonized with banking legislation and other commercial laws.

Stakeholder consensus and awareness: a) to foster a sustainable competitive market, a consensus will be found in the industry with regard to a joint platform and business model that is interoperable and economically sustainable in small countries like the targeted ones- b) Market participants and consumers will better understand the challenges and opportunities as well as the various product offerings.

Identify and engage with potential partners: viable private sector players or groups of players (partnerships) aiming to launch or expand affordable Mobile Money services will be identified and supported.


Erwartete Resultate:  

Support with drafting of enhanced laws and regulations based on recommendations from this project

Enhance institutional capacity of the regulator

Conduct country level demand and supply studies and/or country scoping studies to match Mobile Money products with specific industry sectors in a particular country and offer recommendations to the sector

Carry out awareness campaigns targeted at various sector participants through conferences and targeted workshops

Carry out financial education of end-users of Mobile Money products and services

Identify the appropriate aggregators and support those in formulating strategies as well as business and marketing plans with subsequent product deployment and roll out

Support consumers with accommodating Mobile Money products

Verantwortliche Direktion/Bundesamt SECO
Kreditbereich Entwicklungszusammenarbeit
Budget Laufende Phase Schweizer Beitrag CHF    2’732’000 Bereits ausgegebenes Schweizer Budget CHF    0 Budget inklusive Projektpartner CHF    2’974’963

Phase 1 01.06.2017 - 31.12.2021   (Completed)