66 billion manats a year: CBA head explains the need for restrictions on card transactions

The Central Bank of Azerbaijan supports the banking sector's decision to introduce limits on card top-up operations — up to 5 transactions per day and up to 20,000 manats per month.

As 1news.az reports with reference to Marja, this was stated by the Chairman of the Central Bank of Azerbaijan, Taleh Kazimov.

According to him, these restrictions are not a decision of the Central Bank, but a joint initiative of the banking sector.

"We support this decision, both I personally and the Central Bank as a whole," Taleh Kazimov emphasized.

The head of the Central Bank noted that previously the different approaches of banks to card transactions created unequal conditions in terms of competition. Banks speaking from a unified position is a positive factor from the regulator's point of view.

According to Taleh Kazimov, one of the main reasons for introducing the limits was the excessive growth of card-to-card (c2c) transfers.

He reported that last year the volume of card-to-card transfers in Azerbaijan amounted to 66 billion manats, while the figure as of August 2026 was 48 billion manats.

The Chairman of the Central Bank stated that such a high turnover cannot be explained solely by citizens' personal transfers.

According to him, a certain portion of card-to-card operations is connected with tax evasion, the organization of illegal gambling, and other unlawful activities.

Kazimov noted that such operations place an additional burden on banks in terms of monitoring, analysis, and reporting.

The head of the Central Bank emphasized that for an ordinary citizen not engaged in entrepreneurial activity to carry out five or more account top-up operations every day is not considered normal financial behavior.

According to him, these limits do not apply to the payment of wages and pensions.

At the same time, Taleh Kazimov emphasized that the limits being introduced are not an absolute ban. Clients may apply to their bank with a request to increase or cancel the limit of 5 operations per day and 20,000 manats per month. Banks may reconsider the restrictions, taking into account the individual circumstances of clients and the justifications they provide.

A similar rule applies to the approach providing for the issuance of only one card per banking product. If there is a justified need for an additional card, the bank may consider issuing it.

Taleh Kazimov reported that one of the reasons for introducing this restriction was the issuance of additional cards in the names of elderly citizens and pensioners, which were then used to carry out illegal operations.

According to him, some individuals pay citizens 100–200 manats, opening cards in their names, after which they use them for shadow turnover.

The Chairman of the Central Bank noted that concerns that the limits being introduced would lead to an increase in cash turnover have so far not been confirmed.

According to him, observations for August and September show that the volume of cash transactions has not increased but, on the contrary, has decreased.

Kazimov emphasized that for citizens engaged in lawful activity, these limits should not create serious problems.