Azernews.Az

By Trend

Azerbaijan has created a ‘joint network of ATMs’ widely used in international practice, using the capabilities of the Interbank Card Center, operated by the country’s Central Bank (CBA), with the aim of expanding financial inclusion, Trend reports referring to the CBA.

The local banks (AccessBank and Yapi Kredi Bank Azerbaijan CJSCs, AFB Bank, Azer-Turk Bank, Bank of Baku, Expressbank, Gunay Bank, TuranBank, Unibank, Yelo Bank and Ziraat Bank Azerbaijan OJSCs) and Azerpocht LLC signed an agreement on the joint use of existing ATM networks.

As a result, customers of the mentioned banks will be able to use the ‘joint ATM network’ of 500 ATMs on more favorable terms. The created ‘network’ will help to optimize the costs of banks for the network of ATMs with the purpose of providing customers with more affordable financial services.

As reported, in the future it’s planned to expand the coverage of the ‘ATM network’ and connect other banks to this network, as well. At the same time, the Central Bank of Azerbaijan will carry out regular measures aimed at making fees for paid services more accessible to consumers and businesses.