Central Bank says inter-bank settlements not affected by internet problem

Baku: Problem occurred in the internet connection on November 16 has not affected the inter-bank settlements, Central Bank of Azerbaijan told APA-Economics.

“A National Payment System infrastructure has been set up in the country. As a result of reforms conducted for stable, reliable and safe organization of payment systems, the dependence on international infrastructures has been reduced to minimum, that’s, along with the international infrastructures, Central Bank of Azerbaijan has provided the banks also to conduct the settlements through local telecommunication network”, Central Bank said.

CBA said that in spite of internet connection loss, the National Payment System, as well as Real Time Gross Settlement System and XOHKS (Azerbaijan’s low-value settlements and clearing system) operated normally.

SOURCE: AZERI-PRESS NEWS AGENCY

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