500 MANAT denominated currency was issued to circulation on 4 November 2021 by the Central Bank of the Republic of Azerbaijan on the occasion of the historical victory of the Azerbaijani Army during the 44-day Patriotic War for liberation of Karabakh from armenian occupation in 2020 under the leadership of Ilham Aliyev, the Supreme Commander-in-Chief of the Armed Forces of the Republic of Azerbaijan.

The face of the commemorative coin depicts the slogan of the President ‘Karabakh is Azerbaijan!’, the words ‘8 November Victory Day’, images of the Jidir Plain, as a charming pearl of nature of Karabakh, the Khudafar's bridge, the example of ancient architecture, invincible Azerbaijani soldiers, our tricolor flag and the Khari Bulbul, that has become the symbol of victory, as well as red tulips embodying the shed blood of martyrs and veterans as the main design elements.

The back of the banknote depicts the images of the Molla Panah Vagif Mausoleum, the Askeran fortress, the examples of historical and cultural heritage of our country, Murovdag and the State Map of the Republic of Azerbaijan.

The commemorative banknote is a legal tender in the territory of the Republic of Azerbaijan at its face value.