Forbes Middle East, one of the most influential platforms in the global business world, has turned its spotlight on Azerbaijan’s rapidly changing economic landscape. In a featured article for the prestigious publication, Farid Mammadov, CEO of Bir Ecosystem and Chairman of the Supervisory Board of Kapital Bank, presented a vision for the rise of Azerbaijan’s non-oil sector and the country's transformation into a regional innovation hub. The article serves not merely as an economic analysis, but as a manifesto for Azerbaijan’s new position in the global digital arena. In the piece, Farid Mammadov emphasizes the crucial role of financial technologies in diversifying the national economy. He notes that Azerbaijan is transitioning from a resource-based economy to a new era driven by knowledge and technology. A key driver of this transformation is the Bir Ecosystem – the first fully integrated digital ecosystem in the Caucasus – which is fundamentally changing lifestyles by uniting banking and daily services under a single umbrella. The author highlights to a global audience how digital solutions are positively shifting societal financial habits, going beyond simply optimizing business processes. One of the most compelling points in the article is Farid Mammadov’s vision for the future: “Our goal is not only to offer digital services but also to build a resilient technological infrastructure capable of crossing borders and integrating into global markets. Today, acting as one of the key leaders of digital development in the region, Azerbaijan is on the path to becoming a country that exports innovation.” These insights, featured in Forbes, hold strategic importance in conveying Azerbaijan’s investment appeal and technological potential to international business circles.
You can read the full article via the link below:
http://www.b-b.az/frbs
Bir ecosystem unites the country’s leading brands, Birbank, Birmarket, m10 and MilliÖn, under one umbrella. At the same time, the ecosystem strengthens its impact and enriches customer experience by collaborating with strategic allies such as Trendyol Azerbaijan and BakıKart. Thanks to this integration, customers benefit from QR payments in partner networks and public transport, credit shopping on Birmarket via Birbank, installment payments on Trendyol Azerbaijan using Birbank cards, a unified bonus program and many other solutions. All these services are built on four core pillars of the ecosystem: Unified login, Unified bonus, Unified payment and Unified credit platform, which deliver fast, convenient, cost-effective and secure services to customers.
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