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Central Bank penalizes six banks of Azerbaijan

CBA liquidated the licenses of 10 exchange offices for violation of norms in determining the rate of purchase and sale of foreign currency in cash

Baku. 24 February. REPORT.AZ/ Central Bank of Azerbaijan (CBA) during monitoring on February 23 found violations of the existing regulations in determining the rate of purchase and sale of currency in 10 exchange offices of six commercial banks and abolished their licenses.

Report was told in the CBA, the observance of the currency legislation, including existing regulations to determine the course of buying and selling of currency is constantly in the spotlight:Recently, we have strengthened controls due to the increased volume of transactions for the purchase and sale of foreign currency cash.

Central Bank notes that the CBA in the future will continue to work on the operational control of the full observance of the legislation, including the existing regulations to determine the course of buying and selling foreign currency in cash and appropriate actions will be taken in respect of violating the law.

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