The American-Azerbaijani Chamber of Commerce (AmCham Azerbaijan) has stated that the current practice of issuing salary and pension cards through a limited number of banks in Azerbaijan undermines competition in the country’s financial market.

The position is outlined in AmCham Azerbaijan’s recently published White Paper 2025, which presents key assessments and recommendations from the private sector aimed at improving the business climate in Azerbaijan, The Caspian Post reports, citing the Chamber.

According to the document, the existing system creates a de facto dominant position for certain banks, while restricting the ability of other financial institutions to compete in the salary and pension card segment. As a result, consumers are deprived of the right to freely choose a bank for receiving their salaries or pensions.

AmCham Azerbaijan notes that such a model contradicts the principles of free and fair competition and slows the development of the banking sector by reducing incentives to improve service quality and introduce innovative products.

As a remedy, the Chamber recommends introducing a framework that would allow citizens to independently select any bank for the issuance of salary and pension cards. AmCham Azerbaijan believes that this step would strengthen competition, enhance the quality of banking services, and expand access to financial products across the market.

White Paper 2025 contains more than one hundred policy recommendations developed by AmCham Azerbaijan’s sectoral committees and working groups. The document covers a broad range of areas, including finance, taxation, digital economy, labor relations, and infrastructure development, and is intended to serve as a platform for dialogue between the private sector and government institutions on further improving Azerbaijan’s business environment.