BAKU, Azerbaijan, January 10. The Central Bank of Azerbaijan (CBA) has eased entry requirements for local banks in foreign exchange auctions, Trend reports.
This issue has been reflected in amendments to "Rules for the purchase and sale of foreign currency between the Central Bank and banks" approved by decree No. 49/2 of November 15, 2022, which were made by the CBA Management Board.
In this regard, the CBA Governor Taleh Kazimov has signed a new decision.
According to the decision, banks that have violated the reserve requirements during the last storage period will now also be able to participate in currency auctions.
Previously, participation in currency auctions required that these conditions not be violated.
The Department of Legal and Organizational Affairs of the CBA has been instructed to submit this decision to the Ministry of Justice of Azerbaijan within three days for inclusion in the State Registry of Legal Acts.
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