Employees will be able to choose the bank for receiving salaries

Azerbaijan’s central bank plans to allow employees to independently choose the bank through which they receive their salaries this year, Central Bank Governor Taleh Kazimov said.

Kazimov made the remarks while commenting on competition in the banking sector and bank fees.

He said competition in the banking sector should expand. Work is currently underway with relevant government agencies on the liberalisation of salary payments.

“Our goal is to carry out salary liberalisation this year, hopefully within the next two or three months. Employees in both the public and private sectors should be able to choose the bank through which they want to receive their salaries,” Kazimov said.

He added that a similar option could be introduced for pensioners at the next stage.

N. Tebrizli