Central Bank and Azerbaijan Banks Association awards winner banks on cashless payment nominations

16 March 2017, Baku: The CBA implements various projects and holds ongoing events with active involvement of related public authorities and the banking sector to create a high-tech and software based National Payment System, broader apply the international experience in the e-payment environment and increase the weight of cashless payments in the economy.

As part of these projects the focus is on further expansion of the scope of payment infrastructure via innovative payment solutions, elevation of e-banking indicators in the banking system and promotion and stimulation of banks’ activities.

The CBA has been holding a nomination contest to evaluate activities of banks in expanding the volume of cashless settlements and widening the use of up-to-date banking technologies in the country, and award the most active ones annually since 2013.

A jury of representatives from the CBA, the ABA, the AzeriCard LLC and the MilliKart LLC determines winner banks on the basis of statistic reporting delivered to the CBA monthly.

In 2016 the CBA launched contests on 5 nominations and awarded the following banks:

‘Leading bank on cashless payments’:

I place “Bank of Baku” OJSC;

II place “Bank Respublika” OJSC;

III place “Accessbank” OJSC.

‘Leading bank in e-banking services’:

I place “Bank Respublika” OJSC;

II place “Turanbank” OJSC;

III place “Accessbank” OJSC.

‘Leading bank in e-trade development’:

I place “Unibank” OJSC;

II place “Bank of Baku” OJSC;

III place “International Bank of Azerbaijan” OJSC.

‘Leading bank in contactless payment cards’:

I place “Demirbank” OJSC;

II place “Unibank” OJSC;

III place “Atabank” OJSC.

‘Leading bank on contactless POS-terminal infrastructure’:

I place “Dəmirbank” OJSC;

II place “Unibank” OJSC;

III place “International Bank of Azerbaijan” OJSC.

Banks in top 5 in terms of achieved indicators were awarded with gratitude letters along with winner banks on announced nominations.

The CBA in partnership with the ABA will continue the nomination contest in 2017 to stimulate appropriate activities of banks as part of a series of strategic road maps approved at the resolution of President of the Republic of Azerbaijan to successfully hit targets on the formation of a digitalized banking system, expansion of digital payments, and increase of the share of cashless operations.

Azərbaycan Respublikasının Mərkəzi Bankı 20 ildə