Central Bank of Azerbaijan announces expanding non-cash payments as one of the main priorities

One of the main priorities of the Central Bank of Azerbaijan (CBA) for the next year is expanding non-cash payments in Azerbaijan. This is stated in the statement of the Central Bank of Azerbaijan on main directions of the monetary policy and financial stability for 2013, published on its website.

"A number of activities aimed at integration of public institutions into a unified State Payment Portal created for provision of electronic payment of taxes, fees, rents and other payments to the state authorities are planned for 2013," the statement says.

Access to electronic banking in the country will be expanded through a network of services provided by Azerpost. In addition, the National Payments Council consisting of relevant structures was established for increase of non-cash payments in Azerbaijan. According to the statement, the total amount of payments through the infrastructure of the national payment system of Azerbaijani Central Bank for 11 months of 2012 amounted 104.8 billion manat, increasing by 16.8 percent compared to the same period last year.

During 11 months of 2012, the number of payment cards in circulation rose by 9.7 per cent, the number of ATMs increased by 5.1 percent, and of POS-terminals - almost three times.

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