Bank-to-bank transfers in Azerbaijan unaffected by severe Internet loss
Baku, Azerbaijan, Nov. 17
By Anvar Mammadov - Trend:
The severe internet loss that Azerbaijan suffered on Nov. 16 didn't affect the bank-to-bank payments inside the country, said the Central Bank of Azerbaijan (CBA) on Nov.17.
The message said that Azerbaijan has created an infrastructure of the national payment system, the architecture of which is based on advanced technologies and software.
As a result of reforms aimed at a stable, reliable and safe operation of payment systems, dependence on international infrastructure was minimized.
"The Central Bank ensured the work of bank-to-bank settlement system based not only on the international infrastructure, but also with the help of the established local telecommunications network," said the message.
"As a result, in spite of the problem that has arisen in the Internet and the limited possibility of banks to access the SWIFT platform, the national payment system, which operates on the basis of local telecommunications network, the system of real-time bank-to-bank payments, the settlement system for small payments and clearing continued their work," the message said.
"Incessant and safe bank-to-bank payments in national currency were ensured."
Azerbaijan lost nearly all of its internet connection at approximately 16:15 (UTC/GMT +4 hours) Nov.16 due to technical issues.
The problems occurred as a result of the fire at the lines connected to the DATA-center of Delta Telecom, Mushviq Amirov, spokesman for the Azerbaijani Ministry of Communication and IT, told Trend.