Details added (first version posted on 17:12)

Baku, Azerbaijan, Aug. 18

By Maksim Tsurkov - Trend:

The Central Bank of Azerbaijan (CBA) has twice lowered the tariffs for interbank payments made through the AZIPS system (national interbank real time payment system), the CBA said August 18.

By its other decision, the CBA introduced changes to tariffs for spending cash, according to the message. So, 0.15 percent tariff, applied to large denomination bank notes (50 and 100 manats), has been eliminated. Tariffs for the secondary, subsequent withdrawal and receipt of cash during the day were established at 0.05 percent.

"These solutions are aimed at encouraging interest rates decrease," said the message. "The solutions will support optimization of operating costs of banks and reduction of prime cost of financial resources."

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