Two more Azerbaijani banks join Forex market
Azerbaijan, Baku, April 24 /Trend A.Akhundov/
Two more Azerbaijani banks -- Bank Standard and Royal bank -- have launched an operations platform in Forex, the banks told Trend on Wednesday.
Both systems have started work in April.
Banks are going to be active in this market.
Transactions in the Forex market - over the counter foreign exchange market - are carried out in Azerbaijan only through the banking organization since 2011 in accordance with the decision of the CentralBank.
There are two more banks in addition to the above mentioned banks, which have such a platform in Azerbaijan. Trading platform for Forex market was launched in MuganBank on July 19, 2010 and Texnikabank launched a similar operation in 2011.
Following its establishment in 1995, Bank Standard functioned as a retail bank specialising in providing services to individuals.
Beginning in 2004 and on changing its name, Bank Standard reviewed its development plan and has changed itself into a universal commercial bank focused on serving both individuals and the business sector, providing a broad range of financial services to its clients.
RoyalBank is a commercial bank operating in Azerbaijan. It has 32 branches in Baku and regions. RoyalBank second established on August 2, 1993 as a joint commercial bank "OZ Bank".