The first denominated bank notes will be taken to Azerbaijan in December 2005, Alim Guliyev, the first deputy chairman of the Board of the National Bank of Azerbaijan (NBA), told Trend.
“All medium-value banknotes will be delivered to cover demand at the initial stage. It is not excluded that the part of 50 and 100 banknotes will be delivered to Azerbaijan as well. The rest part will arrive in the country in 2006,” he stressed.
According to Guliyev, the volume of the money order corresponds with demand.
The NBA concluded contract on printing and coining of banknotes and coins with the Austrian Osterreicheichische Banknoten und Sicherheitsduck. But they earlier supposed that new banknotes would be printed by British Thomas De La Rue with subcontractor Royal Mint.
The value of the contract will comprise approximately 16m euros.