Baku, Azerbaijan, Apr. 25
By Azad Hasanli – Trend:
The Azerbaijani Parliament adopted draft amendments to the “Law on Currency Regulation” at a plenary session Apr. 25, Trend’s correspondent reported from the session.
The amendments allow individuals and legal entities to open currency exchange offices in Azerbaijan.
Since January 2016, only banks and post offices could have currency exchange points in Azerbaijan. In accordance with the adopted amendments, not only residents of Azerbaijan, but also foreign companies will be able to open currency exchange points in their branches in Azerbaijan.
The currency exchange will be possible only in cash, according to the amendments.
This is while, the amendment to the “Law on State Duty”, which was also adopted at the plenary session of the Azerbaijani Parliament Apr. 25, provides for introduction of a fee worth 500 manats for obtaining a license to open a currency exchange office. This license will be issued for an indefinite period by the Financial Market Supervisory Authority of Azerbaijan.