Shorouk Express
BAKU, Azerbaijan, January 10. The Central Bank
of Azerbaijan (CBA) has eased entry requirements for local banks in
foreign exchange auctions, Trend reports.
This issue has been reflected in amendments to “Rules for the
purchase and sale of foreign currency between the Central Bank and
banks” approved by decree No. 49/2 of November 15, 2022, which were
made by the CBA Management Board.
In this regard, the CBA Governor Taleh Kazimov has signed a new
decision.
According to the decision, banks that have violated the reserve
requirements during the last storage period will now also be able
to participate in currency auctions.
Previously, participation in currency auctions required that
these conditions not be violated.
The Department of Legal and Organizational Affairs of the CBA
has been instructed to submit this decision to the Ministry of
Justice of Azerbaijan within three days for inclusion in the State
Registry of Legal Acts.
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