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One of the crucial activity directions of the Central Bank is to organize, coordinate, regulate and oversee stable, reliable and secure operation of payment systems throughout the country, and develop them on an ongoing basis in light of modern trends. To attain targets the Central Bank jointly with related public authorities, international organizations and the banking sector implements nationwide projects and strategic initiatives continuously for the development of electronic payment systems and expansion of cashless payments.
The Central Bank elaborated and successfully implemented the ‘State Program on development of the National Payment System in the Republic of Azerbaijan for 2005-2007’ approved with Decree No.152 of the President of the Republic of Azerbaijan dated 9 December 2004 and the ‘State Program on expansion of digital payments in the Republic of Azerbaijan for 2018-2020’ approved with Decree No. 508 of the President of the Republic of Azerbaijan dated 26 September 2018 with a view to shape the National Payment System up to modern requirements and expand cashless payments environment between citizens, businesses and public institutions.
