CBA: Sales of foreign currency in Azerbaijan exceed its purchases

There is no hype in Azerbaijan’s foreign exchange market. Sales of foreign currency by the population exceed purchases, Director-General of the Central Bank of Azerbaijan (CBA) Togrul Aliyev said, Report informs.

“In the context of combating money laundering in Azerbaijan, restrictions may be introduced on the sale of currency to citizens in accordance with the internal control system. This approach is applicable not only to foreign exchange, but also to other transactions. Banks, like other financial institutions and entities, in accordance with international standards, as well as the country’s legislation, should improve internal control systems in the field of combating money laundering,” he said.