Tehran, Baku Mull Integration of Bank Cards

EghtesadOnline: Azerbaijan and Iran have started discussions on the integration of the two countries' bank cards systems, local media reported, citing the Central Bank of Azerbaijan.

News ID: ۷۷۳۴۳۳

23 January 2017

One of the possible options of the integration of bank cards is the connection of Iranian banks with the Azerbaijani system of card payments.

Once this integration takes place, Iranian citizens will be able to use their cards in Azerbaijan, and vice versa, Sputnik reported.

"The issue is being considered by the expert committee. No results have been achieved so far," the bank said in a statement, quoted by Trend News Agency.

In August 2016, the Iranian and Azerbaijani central banks discussed the establishment of a joint regional bank for the development of financial cooperation and facilitation of bilateral transactions on the sidelines of the trilateral meeting attended by Russian President Vladimir Putin, his Azerbaijani counterpart Ilham Aliyev and Iranian counterpart Hassan Rouhani in Baku, Financial Tribune reported.