Central Bank of Azerbaijan plans to open 2 branches in Karabakh

Finance Materials 29 January 2021 16:38 (UTC +04:00)

BAKU, Azerbaijan, Jan. 29

By Zeyni Jafarov - Trend:

The Central Bank of Azerbaijan (CBA) is preparing an expanded concept of its policy regarding the development of banking infrastructure in the Azerbaijani lands liberated from the Armenian occupation, Chairman of CBA Elman Rustamov said.

Rustamov made the remark at the press-conference in Baku, Trend reports on Jan. 29.

The chairman said that in these territories the CBA will help revitalize both the banking infrastructure and the insurance sector.

“The CBA is conducting extensive discussions with the banking sector about the development of banking infrastructure in the liberated territories,” Rustamov said. “All banks speak out positively on this proposal. The CBA plans to open two big territorial subdivisions there, one of which is likely to be in Shusha.”

"One of our main tasks is also the resumption of the turnover of the national currency throughout the sovereign territory of Azerbaijan,” Rustamov said. “We plan to issue a distinctive nominal banknote associated with the Nagorno-Karabakh region by the first anniversary of the Great Victory in the second Armenia-Azerbaijan Nagorno-Karabakh War."


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