The board of National Bank of Azerbaijan at its yesterdays session approved the new rules for exchange points. NBAs general director Rufat Aslanli told Trend these new rules had already been submitted to The Ministry of Justice for registration. The rules come in effect upon getting them in regulatory register.
В"Despite that they are still not in effect, the banks already exchange currencies in accordance with them. Many banks consider new rules very useful in respect to risks mitigation and lead restructuring of their exchange points in accordance with new rulesВ", Aslanli said.
The rules stipulate integration of exchange operations with the banks operating systems and meeting safety requirements.
As of May 1, there are some 300 exchanges across the country. National Bank already had more than 300 exchanges close down due to failure to meet the requirements.