5 May 2026, Baku: The Central Bank is expanding access to the refund process for depositors and other account holders of Nakhchivanbank OJSC, aiming to improve convenience and public access to financial services.

Under the new measures, citizens across the country will be able to submit applications online through the Central Bank’s Electronic Services Portal using its Electronic Applications System.  Applicants may request that remaining account balances be transferred directly to their bank accounts. They must provide a copy of their identification card as part of the submission process. Applications filed by an authorized representative must also include copies of the representative’s identification document, the power of attorney confirming their authority, bank account details and any other required supporting documents.

Citizens who prefer to apply in person may continue to do so through the Central Bank’s Nakhchivan Autonomous Republic Office. Individual applicants may receive payments in cash regardless of the amount involved, while legal entities and private entrepreneurs will receive funds through bank transfers. People who experience difficulties using the online application system may also submit requests for transfers through citizen reception units operating at the Central Bank’s ASAN Service Centers No. 2 and No. 5.

The changes are part of broader efforts by the Central Bank to strengthen consumer finance protection and improve the accessibility and quality of public service delivery.

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