The Azerbaijani Government defines the dynamic growth of the money allocations of the population over the recent period. According to the recent information, 58% of the cash on hand is outside the banking sector, the Head of the Economic, Credit and Tariff Policy Department of the Cabinet of Minister of Azerbaijan Oktay Ahverdiyev informed Trend.
Ahverdiyev considers that over the next two-three years it may be possible to, as it is in Europe, to attract 90% of finances of population into the banking system. It will be possible after conducting operations in the trade stations and in the service sector on base of cashless settlement. Gradually the labor payments will also be made through the card system.
According to the information provided by the Azerbaijan National Bank, till October 1, the amount of the cash money supply has increased by 82,1% over the current year. As of October 1, the indicator of the cash money supply amounted to AZN 996,8 mln.
As of October 1, the amount of the cashless money supply equaled to AZN 533,8 mln, an increase of 2,14 times as comprised to the beginning of the year.