Azerbaijan: Salary accounts can be moved to any bank from April 1 next year

Citizens in Azerbaijan will be able to move their salary accounts to any bank they choose from April 1 next year, without paying any additional fees. Modern.az reports that Central Bank Chairman Taleh Kazimov announced this during a meeting with economists.

According to Kazimov, pensioners will be able to choose the bank that pays their pensions in the next stage. The change is expected to increase competition among banks for customers and create more favourable offers for those who move their accounts to another bank.

Economists note that the free transfer of salary accounts should have been introduced this year, but the process has been delayed.