Central Bank develops Open Banking Manual

08-04-2025

8 April 2025, Baku: The Central Bank prioritizes initiatives aimed at expanding the use of innovative financial technologies and shaping a digital banking ecosystem, among which, efforts toward implementing the Open Banking concept hold significant importance.

The Management Board of the Central Bank approved the ‘Requirements for network channels used between payment service providers for providing payment initiation and account information services’ on 10 December 2024 to apply the open banking approach. Additionally, the Central Bank developed an Open Banking Manual. This document, as part of the regulatory framework for Open Banking in the Republic of Azerbaijan, defines the standard for interfaces of account-servicing payment service providers for the services outlined in the requirements.

The manual includes the structure of the API, the management of the consent mechanism, account information services, open data services, and the technical requirements necessary for organizations to join as third-party providers.