Azernews.Az

By Ayya Lmahamad

Central Bank of Azerbaijan (CBA) continues to expand the coverage area of the “single ATM network” project and connect other banks and government agencies to the network.

As part of the measures taken in this direction, Yelo Bank, Access Bank and Azerpocht were integrated into the new network.

Earlier, CBA created a single ATM network that integrated 17 banks, the State Treasury Agency of the Finance Ministry and Azerpocht.

As a result of this agreement, the clients of these banks will be able to use the “single ATM network” of 500 ATMs on more favorable terms. The shared ATM network will allow banks to optimize the cost of the ATM network to provide more affordable financial services to their customers.

Additionally, in the future, it is planned to expand the coverage area of the "single ATM network" and connect other banks to the network. At the same time, the Central Bank will constantly take measures to make payment services more affordable for consumers and enterprises.

The National Bank of Azerbaijan was established by Decree of President dated February 11, 1992, and was renamed as the Central Bank of Azerbaijan on March 18, 2009. The main goal of the Central Bank is to maintain price stability within its authorities set by the Law, to organize and ensure operations of centralized interbank and other unlicensed payment systems, as well as support the stability of the banking system.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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