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15 November 2012

Azerbaijan Central Bank Promises Payment Revolution in 2017

The Central Bank of Azerbaijan has scheduled payment revolution, which it expected to happen in 2017.

CBA first deputy chairman Alim Guliyev has said today that before the end of 2012 President Ilham Aliyev may approve a state program to encourage cashless payments. «The program for 2012-17 has been agreed with more than 20 governmental agencies, and we look forward to its approval before the end of 2012 by the head of state,» Guliyev said.

He points out that the program is designed to bring the popularity of non-cash payments in the country up to the level of the Baltic states, although today no more than 3% of the cash turnover of county’s trade and services accounts for non-cash payment. 


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