Azerbaijani entrepreneurs propose changes to currency transactions
Baku, Azerbaijan, Jan. 31
By Anvar Mammadov – Trend:
Entrepreneurs of Azerbaijan propose to increase the maximum possible period for providing the banks with documents on import transactions made after advance payment.
This issue was discussed at a meeting of entrepreneurs with representatives of the Financial Market Supervisory Authority (FIMSA), the Central Bank, the Court of Appeal, the State Customs Committee and the Azerbaijan Banks Association (ABA), ABA said in a message Jan. 31.
According to the current rules, when an advance payment is made by a bank for import operations, the entrepreneur must within 180 days submit a document confirming the import of products or services into the country.
Entrepreneurs noted that this raises a number of problems, since it is not always possible to submit the relevant document in time, and suggested to extend the needed period.