Elman Ristamov, the Chairman of the Managing Board of the National Bank of Azerbaijan, said in talks with journalists on 12 December that (NBA) the absence of the Qepiks is causing dissatisfaction amongst the travelers and this is due to the transport sector's poor relationships with the banks, Trend reports
The National Bank of Azerbaijan (NBA) has sufficient reserves of qepiks. The problem evolves due to poor relationships between the banking and the transport sectors.
Large transport companies should work side by side with the banks and should make a request to receive their weekly qepik allocation from the NBA, he stated.
Rustamov said that at present 95% of the old manats have been withdrawn from circulation.
We expect this figure to increase by the end of the year. The old manats will be ineffective from 1 January 2007, however, they can be replaced with new ones at the NBA without any problems, he notified.
Mr. Rustamov noted that there are counterfeit 1, 5 and 10 manat bank notes in circulation.
We have information that the counterfeit bank notes are photocopied and launched into circulation. The false banknotes are easily distinguishable as thicker paper has been used. However, it is necessary to be vigilant, Rustamov stressed.