Discussion of NBA’s new rules on cash exchange transactions over

Business Materials 6 December 2005 14:10 (UTC +04:00)

Discussion of the project on organization rules of exchange bureaus and order of transactions with cash foreign currency, developed by the National Bank of Azerbaijan (NBA), is over. “The working group of the Association of Azerbaijani Banks completed discussion of restructuring of cash exchange transactions with NBA,” Zakir Nuriyev, the chairman of the Association, told Trend.

“The discussion focused on reduction of social and commercial costs for transition of currency exchanges to exchange bureaus of commercial banks. There are 560 legal currency exchanges and some number of illegal currency exchanges in the country. The discussion is over and NBA can approve the rules in accordance with the existing procedure,” Nuriyev stressed.