11:31 - 19.11.2025

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November 19, Fineko/abc.az. In Azerbaijan, standard AzQr is approved throughout the country.

ABC.AZ informs that Central Bank of Azerbaijan’s deputy chairman Vusal Khalilov made this statement at the IX International Banking Forum in Baku.

Speaking about the prospects of this standard, he noted that AzQr will make it even easier for entities both in the regions and in the center to accept non-cash payments: "At the same time, the cost of payments will decrease. In general, this transition is aimed at seriously reducing the costs of not only financial institutions, but also entrepreneurs. The Central Bank is improving its control mechanisms taking into account these changes and dynamics," Khalilov said.

He noted that according to the strategy, this means a transition to risk-based control.

"To make this transition, we are implementing a number of technological solutions and striving to use them by financial institutions," the deputy chair emphasized.