Financial education in Azerbaijan


This page provides an overview of financial literacy in Azerbaijan and access to information relating to the country's financial education activities. Azerbaijan participated in phase I and was involved to some extend in phase II of the Technical Assistance Project on Financial Education in the Commonwealth of Independent States (CIS), Eurasia, which ran from 2017-2022.

Financial literacy in Azerbaijan

The OECD conducted a financial literacy survey among adults in Azerbaijan in 2017 and published the results in 2018. The average literacy score in Azerbajian was 11 (out of a maximum of 21), according to the OECD methodology. In terms of measuring the financial knowledge, fewer than one in four adults in this study achieved the minimum target of 4 out 7. Slightly more than 2 in 5 respondents (43%) in Azerbajian achieved the minimum target score for behaviour (which is 6 of the 9 behaviours). Around a third of adults (32%) in Azerbaijan achieved the minimum target score for financial attitude (4 or above out of 5).

The results of the second data gathering (2021) can be found here.

Other surveys, conducted by the State Statistics Committee for the World Bank Group in 2009, SIAR Research and consulting group for the International Finanical Corporation in December 2013 - January 2014 and CBAR in April-May 2014 were used to set the prioriries of the National Strategy for Finanical Education in 2016. 

Azerbaijan's National Strategy

Advancing financial literacy of the population is carried out systematically at the state level and is coordinated by the Center for Research and Development of the Central Bank of Azerbaijan (CBAR).
In 2016, the government of Azerbaijan has adopted the Strategic roadmap to develop financial services in Azerbaijan. Improving financial literacy of the population is one main strategic goal of this Roadmap. An action plan has been developed.

In 2018 a special working group has been created to ensure the effective implementation of the Actions plan developed under the roadmap. The working group is composed of public institutions, including CBAR, Ministries of Finance and Education, private sector respesentatives, international organisations. Under the action plan, a number of initiatives have been implemented for different target groups in the country.

Financial education portal has been created in Azerbaijan.
A learning platform for trainings complements the portal, where around digital trainings are available for population.


Azerbaijan participation in the project

The OECD-INFE Technical Assistance Project on Financial Education in the Commonwealth of Independent States (CIS) ran from 2017-2022. It provided tailored guidance and technical support for the design, implementation and review of evidence-based financial education strategies and policies in CIS economies. This project covered seven countries: Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. The project benefited from the financial support of the Ministry of Finance of the Russian Federation.

Azerbaijan participated actively in the project from the beginning. The country contributed to the first data collection survey in 2017 and to the follow-up survey in 2021.

The Central Bank of Azerbaijan participated at several regional workshop on ways how to implement and assess the effectiveness of the National Strategy for Financial Education, how to include financial literacy in schools and for youth, how to develop financial literacy for migrants and their families.

Azerbaijan CIS visual

Project documents and links

The following documents produced within the framework of the project are either specific to Azerbaijan or contain a section relating to Azerbaijan:



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