Azerbaijan Central Bank extends validity of the package for additional measures to support the financial sector amid pandemic

Azerbaijan Central Bank extends validity of the package for additional measures to support the financial sector amid pandemic
  • Clock-gray 14:35
  • calendar-gray 30 December 2020

Taking into account the continuation of state support for business entities in the areas affected by the pandemic, the synchronization of the regulatory policy of the Central Bank of Azerbaijan (CBA) with the government policy of supporting the economy, it was decided to extend until April 1, 2021, the validity period of decisions and recommendations adopted until December 30, 2020, in the direction of reducing the burden of credit institutions and protecting the rights of consumers of financial services, APA-Economics reports quoting CBA.

It is planned to extend until April 1, 2021, the period of validity of privileges for accounting in the capital of operational and market risks and countercyclical capital buffer.

In order to stimulate non-cash payment services and reduce the costs of economic entities for these services during a pandemic, the validity of the decision to reduce by 50% equal tariffs on payment cards of entrepreneurs in the interbank payment systems of the CBA was extended until April 1, 2021.

Mirsaid İbrahimzade

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