Exchange of Azerbaijani manat (AZN) from Visa/MasterCard bank card
Banks of Azerbaijan open accounts not only for citizens but also for guests with a temporary residence permit. However, a guest can get a debit card only with a work permit.
History of currency
The first appearance of the currency can be attributed to the times of 1919 — 1923 in the Azerbaijan Democratic Republic. The currency was subjected to severe inflation and, as a result, was replaced by the Transcaucasian ruble.
When Azerbaijan became independent, it issued its own currency, the Azerbaijani Manat (AZN), which also underwent a period of severe inflation in the early years.
The current manat in circulation has been used since the denomination in 2006 — the new unit replaced 5,000 old manats. The currency is mainly pegged to the US dollar.
The visual denomination of the Azerbaijani manat is ₼. One unit of currency is divided into 100 qepiks.
Main banks of Azerbaijan
Banks dominate the country's financial sector, accounting for 95 per cent of total financial sector assets. The non-banking sector, particularly microfinance, is underdeveloped and was hit hard after the devaluation in 2015. In 2016, 19 banks were closed due to bad loans, poor asset quality, lack of liquidity and the general economic downturn. Four more banks were completed in 2020 after the Central Bank took over supervision of the financial market.
The most significant banks in the country are:
- International Bank of Azerbaijan
- Capital Bank
- PASHA Bank
- XalqBank
- AccessBank
Azerbaijan's largest bank, International Bank of Azerbaijan (IBA), majority owned by the Government of Azerbaijan, underwent a restructuring in 2018.
The leading sectors that Azerbaijani banks work with are Visa/MasterCard AZN bank card issuance, financial and wealth management, working capital and lending, trade finance, and leasing. Microfinance is, one could say, in a developing state.
Visa/MasterCard AZN exchange online
It is easy to send or receive the currency you need in exchange for another currency/cryptocurrency through specialized online exchangers.
Our site was created precisely so the user could quickly find suitable options for exchange offices with favourable rates and comfortable conditions. Select a direction from the available ones, and you will be immediately presented with a list of exchangers supporting this direction.