BOARD DECISION OF CENTRAL BANK OF THE AZERBAIJAN REPUBLIC

of July 10, 2012 No. 16/3

About approval of "Rules of issue and use of payment cards"

For the purpose of regulation of issue and use of payment cards, and also "About the Central bank of the Azerbaijan Republic" decides risk managements of the Board of the Central Bank payment cards of the Azerbaijan Republic according to articles 22.0.17 and 44 of the Law of the Azerbaijan Republic:

1. Approve "Rules of issue and use of payment cards" (are applied);

2. Charge to Legal department (R. Melikov), within 3 days to provide submission of this decision to the Ministry of Justice for inclusion in the State register of legal acts of the Azerbaijan Republic;

3. Charge to Department of supervision of activities of credit institutions (A. Mamedjyarov) and (K. Kurbanova) to provide to Department of payment systems and calculations implementation of all necessary actions in connection with entry into force of these rules.

Approved by the Decision of the Central bank of the Azerbaijan Republic of July 25, 2012 No. 16/3

Rules of issue and use of payment cards

1. General provisions

These rules are prepared according to article 44 of the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic", and also article 32 of the Law of the Azerbaijan Republic "About banks" and regulate rules of issue and use of payment cards in the territory of the Azerbaijan Republic.

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