Azerbaijan’s Caspian Money Transfer completely ceases its activity
Baku, Azerbaijan, Jan. 10
By Huseyn Valiyev – Trend:
Azerbaijani first national money transfer system - Caspian Money Transfer has completely ceased its activity, a source in the country's financial market told Trend on Jan. 10.
The Caspian Money Transfer system was a structural subdivision of the Azerbaijani liquidated Zaminbank and according to the current legislation it could not operate independently.
After the bank’s license was revoked in 2016, a decision was made to register the system in Turkey, but no final decision was made on this issue.
Caspian Money Transfer [before the suspension of activity] worked directly in all CIS countries. Through partner systems, money transfers were carried out to Europe, North America and South America.
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