Azerbaijani Central Bank halves tariffs on interbank services

The Central Bank of Azerbaijan (CBA) has halved tariffs for interbank payments in the national system AZIPS, the chief financial regulator informed in his report.

By its decision, the CBA adjusted tariffs that relate to spending cash. Thus, a tariff of 0.15% which applied to banknotes of large denomination (50 and 100 manats) was removed, and the CBA set tariffs for repeated and subsequent removal of cash during the day at a level of 0.05%.

"These decisions are aimed at stimulating a decrease in interest rates. This decision will support the optimization of operating expenses of banks and cost reduction of financial resources," Trend cites a CBA statement.