Finance

Finance

Azerbaijan National Payment Council holds first meeting

23 May 2012 14:34 (UTC +04:00)

Baku â€“ APA-Economics. National Payment Council, established in Central Bank of Azerbaijan to pass conceptual decisions and determine policy on improvement of accounting systems with payment and securities of the country, has held its first meeting.

CBA First Deputy Chairman, chairman of Council Alim Quliyev spoke about the presidentâ€™s order on development of cashless payments in the country and widely usage from cards and noted that NPC was established to coordinate common works in this direction. He also noted that, several significant projects were implemented on this direction.

Kamala Gurbanova, director of the CBA Department of Payment Systems & Settlements, spoke about the international practice on foundation of the National Payment Council, purpose of its activity and organization of the activity, current state of National Payment Council, as well as development perspectives. She noted that current main components of the System â€“ AZIPS, XOHKS and KOMIS are used successfully and interbank settlements have been totally automatized by the introduction of these systems.

Moreover, the meeting focused on development directions of e-payment services, strategic targets for the next 5 years. Regulations of the National Payment Council were adopted at the meeting.

The meeting was attended by representatives of CBA, Taxes, Communications and IT ministries, State Customs and Securities committees, leading commercial banks.