Azerbaijan IBAN
A Azerbaijan IBAN is 28 characters long.
AZ and two check digits open every Azerbaijan IBAN; its remaining 24 form the BBAN (Basic Bank Account Number). Transfers into Azerbaijan arrive in AZN over SWIFT.
Example Azerbaijan IBAN
Electronic format
AZ21NABZ00000000137010001944
Print format
AZ21 NABZ 0000 0000 1370 1000 1944
IBAN structure for Azerbaijan
Format reference: SWIFT IBAN Registry.
Azerbaijan IBAN questions
Can I send money to Azerbaijan through AniPay?
No. AniPay, the app and portal CBAR built on its Instant Payments System, is intended only for domestic payments, CBAR's own answers say, and works only in manat. Customers of connected banks register through their bank's app, internet banking or the AniPay app, and a single payment can be up to 40,000 manat.
How much money reaches Azerbaijan through money transfer systems?
CBAR's Digital Payments Report 2023 puts inflows through money transfer systems at the equivalent of AZN 2.5 billion that year, against outflows of AZN 616.4 million. The same report counts 587,600 Instant Payments System transactions worth AZN 1.1 billion in 2023, with the value passing through that system up 91.8% on the previous year.
Can government bills be paid through the instant system?
Yes. CBAR says its Government Payment Portal, set up to collect budget, utility, telecom, fine, insurance and other payments on one platform, is integrated with the Instant Payments System, making more than 1,000 services payable through it. By the end of 2023, CBAR's report adds, 1,438 municipalities and over 100 higher and secondary special education institutions had joined the portal.
Azerbaijan: CBAR's AZIPS, XÖHKS and the AniPay instant system
Azerbaijan's central bank, the Central Bank of the Republic of Azerbaijan (CBAR), owns the two interbank settlement systems and operates them through its Payment Systems and Settlements Department. Its national payment system has three parts: AZIPS, the real-time gross settlement system opened on 16 February 2001 under a World Bank technical assistance project; XÖHKS, a clearing system added in 2002 for small, recurring and non-urgent payments; and the Instant Payments System, in live operation since 1 October 2020.
- AZIPS settles each payment document individually, in manat and in foreign currencies, from participants' correspondent accounts at CBAR. It accepts documents from 9:20 to 17:00, holds those lacking funds in a queue ordered by the participant's own priorities, and cancels any still queued at the end of the day. Its messages travel over SWIFT and, in parallel, a closed local network.
- XÖHKS works differently: it clears payments multilaterally and settles the resulting net positions, in manat only, with each transaction capped at 40,000 manat. Participants submit payment packages through the day, results are processed in three daily sessions, and settlement draws on liquidity limits set in advance against the banks' main correspondent accounts in AZIPS.
- The Instant Payments System was built under the 2018 to 2020 state programme on expanding digital payments, approved by presidential order on 26 September 2018. It runs around the clock in manat only, with banks converting at the day's rate when an account is held in another currency, and lets users pay by mobile number, e-mail, FIN personal code or VÖEN tax number.
Sources: CBAR: payment systems (Azerbaijani); CBAR: Instant Payments System (Azerbaijani); CBAR: low-value payments clearing system (Azerbaijani); CBAR: Digital Payments Report 2023.
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