Azerbaijan Banks Association introduces risk-based cap on payment card issuance

The Azerbaijan Banks Association (ABA) has announced the implementation of a risk-based framework governing the issuance volume of payment cards and accounts tied to electronic money.

Under the updated policy, banks will issue only one payment card per product line to an individual customer. The restriction excludes payroll, pension, and state benefit cards, as well as cards linked directly to corporate/entrepreneurial or deposit accounts. Customers will also retain the option to request additional cards upon submitting valid justification.

The association underscored that the measure is not designed to restrict consumer access, but rather to reinforce payment infrastructure security, prevent illicit account usage, and curb systemic financial risks.

N. Tebrizli