Volume of instant money transfers in Azerbaijan increases

The volume of instant money transfers without the opening of an account increased in Azerbaijan in April 2019, both among the money transfers issued and the money transfers sent, Trend reports referring to Central Bank of Azerbaijan (CBA).

During the reporting period, the number of transfers issued increased by 18.3 percent to 281,800 transfers in the amount of 170.1 million manats (an increase of 13.6 percent) compared to the same period last year. The average amount of one issued transfer decreased by 4 percent to 603.5 manats.

The number of sent remittances increased by 18.1 percent to 111,600 transfers in the amount of 75.8 million manats (an increase of 32.7 percent). The average amount of one sent transfer increased by 12.4 percent to 679 manats.

The number of transfers in the National Interbank Real-Time Gross Settlement /Payment System (AZIPS) increased by 14.9 percent to 77,000 transfers in the amount of 18.9 billion manats (a decrease of 8.3 percent) compared to April last year. The average amount of one transfer decreased by 20.2 percent, reaching 245.7 manats.