BAKU, Azerbaijan, February 10. The Central Bank of Azerbaijan (CBA) has issued an enforcement order to AFB Bank OJSC, Trend reports via CBA.
According to information, the order was issued due to violations of the requirements outlined in Clause 7.5 of the "Regulations on the Unified Information System for Currency Operations." It was determined that AFB Bank OJSC did not properly submit the information regarding currency exchange transactions to the information system formed for the purpose of conducting currency control, in violation of the regulations.
Under Article 47.4 of the "Law on Banks" of the Republic of Azerbaijan, the Central Bank has mandated that AFB Bank OJSC strengthen its oversight and ensure compliance with the duties outlined by the "Regulations" for participants in the unified information system to prevent future violations.
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