Central Bank of the Republic of Azerbaijan expands access to Naxçıvanbank deposit balance repayments through online applications

The Central Bank of the Republic of Azerbaijan has expanded access to the process for returning account balances to depositors and other deposit account holders of Naxçıvanbank ASC. The change allows people in different regions of the country to apply online through the Central Bank’s Electronic Services Portal using the Electronic Applications System and request transfer of their remaining funds to a specified bank account. Applications must include a copy of the identity document, and where a representative files the request, copies of the representative’s identity document and authorisation document, as well as bank account details and other necessary documents. Citizens who prefer to apply in person can continue to apply through the Central Bank’s Nakhchivan Autonomous Republic Office. Payments to individuals remain available in cash regardless of amount, while legal entities and individual entrepreneurs are paid by transfer. People who have difficulty using the electronic channel can also submit requests for transfer to a bank account through the citizen reception units operating at ASAN service centres No. 2 and No. 5.