The Central Bank of Azerbaijan (CBA) has confirmed that it does not impose any fees on card-to-card payments. This clarification comes amidst public discussions regarding potential changes to banking transaction costs.
According to the Operative Information Center-OMM, Vusal Khalilov, a member of the CBA Board, made the statement to journalists on the sidelines of the 10th International Finance and Banking Summit held in Baku.
Khalilov emphasized that while the CBA maintains a tariff policy that is subject to periodic review, it has not mandated any specific fees for card-to-card transfers. "These services are provided by banks within the framework of their own products and services, and individual banks may make independent decisions regarding the application of tariffs in this area," he explained. He further clarified that there are currently no initiatives or plans at the Central Bank level to introduce such fees.
The banking sector in Azerbaijan has seen significant modernization in recent years, with the Central Bank actively promoting digital payments and financial inclusion. The 10th International Finance and Banking Summit serves as a key platform for discussing these digital transformations, regulatory frameworks, and the future of the national payment system, ensuring that financial services remain accessible and efficient for the public.
