Azerbaijani Postal Operator Introduces Bank Statement Issuance System

Azerpost has started to introduce a system of issuing bank statements when paying for utility services through its regional branch network. The new system corresponds to the principle of moving to IBAN. The main objectives are to improve the identification of bank customer accounts for electronic payments.

“Currently, all of the postal operator’s branches in Baku have moved to issuing bank statements instead of receipts for utilities payments,” Azerpost said.

The process of issuing bank statements is completely computerised. Bank statements are issued by the system after the payment is made and the money paid by the consumers are received.

In accordance with the Central Bank of Azerbaijan’s decision, IBAN will be applied in interbank settlements to any intrabank and client accounts until the end of the year.