BAKU, Azerbaijan, August 10. Azerbaijan has set a monthly limit on money transfers in the amount of $20,000, Trend reports.
According to the Central Bank of Azerbaijan (CBA), these amendments came into force on August 9, 2023.
By Resolution No. 38/1 of the CBA Board on July 28, 2023, the "Rules for Conducting Transactions of Residents of the Republic of Azerbaijan in Foreign Currency, as well as Transactions of Non-Residents in National and Foreign Currency," were changed to allow for targeted transfers of people, including foreign trade transactions of business entities, to be done under a more benevolent system.