Bank Of Baku

Money transfers from abroad to Azerbaijan decreased in 2024

Money transfers from abroad to Azerbaijan decreased in 2024
# 31 January 2025 11:51 (UTC +04:00)

In 2024, AZN 1 billion 674.3 million of funds were received by banks in Azerbaijan through fast money transfer systems, APA-Economics reports, citing Central Bank of Azerbaijan.

The volume of funds sent abroad from banks amounted to AZN 527.9 million.

Compared to the previous year, the volume of funds received by banks through fast money transfer systems decreased by 32.2% or AZN 793.7 million and transfers abroad from banks decreased by 14.4% or AZN 88.5 million.

Noted that in 2023, AZN 2 billion 468 million were received by banks in Azerbaijan through fast money transfer systems. The volume of funds sent abroad from banks amounted to AZN 616.4 million.

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