Turnover of interbank settlements system in Azerbaijan triples


November 15, Fineko/abc.az. As a result of use of modern technologies in the financial sector of Azerbaijan, turnover of the system of non-cash payments has increased.

Zakir Nuriyev, the president of the Azerbaijan Banks Association (ABA), stated at the 3rd International Banking Forum that there are 30 banks in the country.

"In 2010 turnover of interbank settlements amounted to AZN 85 bn, in 2017 it increased up to AZN 210 bn, and by the end of this year such kind of settlements is expected to grow up to AZN 255 bn," Nuriyev stressed.

He added that the forecast made in 2010 was implemented with excess by 2 or 3 times.