The Central Bank of Azerbaijan has introduced a commission of 0.3% to be levied on the cash issue of banknotes in denominations of AZN 100, the APA agency reports.
According to APA-Economics, as a result of monitoring and evaluation carried out, in order to improve the efficiency of cash transactions in the country, optimization of the structure of the nominal money, reduce the use of cash payments and promote the use of cashless payment systems, the Central Bank has determined a 0.3% commission to be levied on banknotes worth 100 AZN from February 1.
The share of AZN 100-banknotes in circulation has reached 75% over the past 7 years, exceeding internationally-accepted standards.
Azerbaijan introduces 0.3% commission on AZN 100 banknotes
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