BAKU, Azerbaijan, December 8. At present, 6
banks have fully integrated into the Vahis Automated Information
System (VAIS), serving 80% of business entities, said the CBA
representative Mushfig Karimov, Trend reports.
Speaking at the event titled “Customs-Business Forum 2025:
Dialogue and Trust,” Karimov said that the Central Bank of
Azerbaijan (CBA) and the country's State Customs Committee are
jointly implementing a project that enables banks and insurance
companies to provide customs guarantees and insurance documents
electronically.
“The Central Bank has a joint project with the State Customs
Committee. This project envisions the electronic submission of
customs guarantees by banks and insurance documents by insurance
companies. At present, 6 banks have fully integrated into the VAIS
system. These banks serve 80% of business entities. Another 3 banks
are in the testing phase and are expected to join the system soon.
One insurance company is also in test mode and will connect to the
system. The biggest advantage of this system is the rapid
processing of customs procedures, full automation, and operation in
a 24/7 mode,” he said.
Karimov added that reforms carried out by the Central Bank to
support entrepreneurship and digital integration projects play a
key role in modernizing customs processes:
“Trade flows do not rely solely on technical infrastructure;
digitalization is also a crucial component. The electronic
integration of bank guarantees, and insurance contracts was
discussed, along with their advantages. These mechanisms act as a
safeguard. Overall, we are witnessing the development of trade
flows and logistics along the Middle Corridor. I believe a new
logistics model is emerging in the region, and the formation of
this model shows how essential a guarantee system for payments in
trade flows has become,” the CBA representative emphasized.
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