12:24 - 14.05.2026

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May 14, Fineko/abc.az. In Azerbaijan, the maximum limit of transfers within the framework of Open Banking is expected to be 40,000 manats, ABC.AZ reports, quoting Elmar Didakenan, an open banking specialist at the CBA Department of Financial Technologies & Innovations.

"Transfers must be made through the Instant Payment System (AOS). The maximum limit does not mean that every citizen will be able to transfer 40,000 manats. Banks can set different limits based on their risk appetite. For example, one bank may allow transfers of up to 5,000 manats, while another may allow transfers of up to 10,000 manats. The transfer can be made by specifying another citizen's FIN code, mobile phone number or IBAN account," he said.

According to the CBA rep, banks will determine the commission fees within the Open Banking independently: "Charging a commission fee is a business decision of the bank itself. It is possible that some banks will not apply such fees at all. We do not intend to prohibit or restrict the business activities of financial entities. However, we can say that when transferring money from an account to an account, the costs are lower, and I think banks will take this into account and will be able to offer more favorable terms. However, for transfers from credit cards, even within the Open Banking, the commission fee will still be applied."