BAKU, Azerbaijan, June 16. The turnover of non-cash funds in Azerbaijan amounted to six billion manat ($3.5 billion) from January through April 2022, President of Azerbaijan Banks Association Zakir Nuriyev said during the fintech summit in Baku on June 16, Trend reports.
According to Nuriyev, 75 percent of non-cash payments fell on transactions, and the payments' share in the total turnover made up 40 percent.
"The number of bank cards this year increased by two million and reached almost 12 million. Besides, the opportunity to open bank accounts and cards online without visiting a bank office was created in Azerbaijan," he noted.
The association’s head also noted that such a trend as neo-banks, that is, digital banks, is developing in the world.
"In the first four months, banking assets in Azerbaijan amounted to 40 billion manat ($23.5 billion)," added Nuriyev.