12:05 - 14.09.2023

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September 14, Fineko/abc.az. The Central Bank has started the process of transferring a number of business processes to commercial banks in order to optimize cash transactions, increase efficiency and effectiveness, ABC.AZ reports with reference to the CBA.

In this regard, the Central Bank has started implementing the operator bank model and defined requirements for operator banks selected from commercial banks.

In accord with CBA Board’ decisions selected the International Bank of Azerbaijan (ABB) and Kapital Bank as the operator banks.

Both banks, together with the finances received from their customers, will also perform the function of sorting and recycling (putting back into circulation) paper banknotes received from other banks and the national postal operator.