Regulatory Alerts2025-12-03
Regulation on Maintenance of Settlements Between Payment Service Providers
The Central Bank of the Republic of Azerbaijan issued this regulation to standardize settlement procedures for direct and indirect payment service providers across its AZIPS, LVPCSS, and IPS. It mandates real-time gross settlement through correspondent accounts while establishing batch clearing protocols, debit limit management, and priority-based queue processing for credit transfers and mandate-driven direct debits. The framework further dictates technical data exchange via CTN or SWIFT, defines operational timeframes and security authentication, and outlines dispute resolution mechanisms to ensure seamless interbank payment operations.
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