Azerbaijani Central Bank proposed as participant of CIS Interstate Bank
Azerbaijan, Baku, Oct. 16. / Trend N. Ismayilova /
Participants of the II International Banking Conference of the CIS member states on "Enhancing the stability of the financial and banking systems of the Commonwealth" proposed to the Azerbaijani Central Bank membership in the CIS Interstate Bank and this was reflected in the final document of the conference. The conference was held in Baku on Oct.14-15.
The CIS Finance and Banking Council on behalf of the participants intends to apply to government and regulatory bodies, central banks of the CIS countries with the request for expedited adoption of a new statute providing capitalization and organization of the CIS Interstate Bank, in accordance with new requirements, conditions of formation of a common currency in the CIS as an international, investment-credit and settlement institution, to ensure the organization and conduct payments in national currencies among the CIS subjects, the document said.
In addition, the final document stipulates to recognize reasonable realization of the project between the Azericard and Coinstar processing centers on ensuring socially significant transfers of individuals with transfer to a card account, and as a pilot model, to create an integrated market of remittances in the CIS inter-processing connection of participant of the national currencies project.
The conference decided to send the document to central banks and the executive bodies of the CIS countries for further consideration and approval.
The conference is organized by the Finance and Banking Council of CIS (FBC) under support of the Executive Committee of CIS, the Presidential Administration of Azerbaijan, International Bank of Azerbaijan and the Bank VTB
TREND news agency and Day.az provide the banking conference with media support.