BAKU, Azerbaijan, August 1. The Central Bank of Azerbaijan (CBA) will set the amount of borrowed funds for the implementation of currency exchange activities, Trend reports.
This issue has been reflected in the amendment to the law "On currency regulation", made by the decree of President of the Republic of Azerbaijan Ilham Aliyev.
According to the decree, the CBA is recommended to approve the following normative acts within a six-month period:
- the upper limit for currency exchange transactions carried out by entities licensed for currency exchange activities;
- data format;
- borrowing limits for currency exchange activities;
- minimum size of the authorized (joint) capital for entities seeking a license for exchange activities, as well as the size of the part of authorized (joint) capital subject to increase for each second and subsequent location where the entity, licensed for exchange activities, conducts such activities, and inform the President of the Republic of Azerbaijan about these decisions.