12:07 - 5.04.2024

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April 5, Fineko/abc.az. In Azerbaijan, payment instruments that meet two criteria will be considered small-amount payment instruments.

ABC.AZ reports that this is reflected in the Rules of Payment Transactions & Payment Instruments approved by the CBA Board of Directors.

According to the decision, these criteria are as follows:

- the amount of payment transactions for one instrument within one calendar month should not exceed 300 manats or in the equivalent of foreign currency;

- the amount of funds stored in this instrument should not exceed 300 manats or the equivalent of foreign currency.

In addition, the decision states that payment instruments that do not require identification of the user of the payment service must meet the following requirements:

- can only be used for payment transactions within the country;

- cannot be used to make money transfers and withdraw funds on a cash basis;

- only individuals can be a user.