Baku, Azerbaijan, Feb. 3
By Azad Hasanli – Trend:
Azerbaijan’s Zaminbank, now undergoing liquidation, has requested registration of its own money transfer system Caspian Money Transfer from the Russian, Turkish and Kazakh central banks, Zaminbank told Trend Feb. 3.
Operation of Caspian Money Transfer - Azerbaijan's first international money transfer system - was suspended after Zaminbank’s license was revoked on July 21, 2016.
The money transfer system is a structural unit of Zaminbank and it cannot operate independently in line with Azerbaijan’s legislation. Therefore, the bank’s management has to register it abroad to ensure the system’s further work.
Prior to the suspension of activities, Caspian Money Transfer worked directly in all CIS countries, and also carried out money transfers to countries in Europe, the US and South America through partner systems.
Zaminbank started to operate on Nov. 16, 1992 in Azerbaijan.