Azernews.Az

The Western Union and MoneyGram money transfer systems have been banned in Azerbaijan due to their continuing to operate in banks located in Upper (Nagorno) Garabagh, an Azeri region under Armenian occupation.
The transfer and receipt of money in local banks via these systems was halted on July 30, according to Rufat Aslanly, deputy board chairman of the National Bank of Azerbaijan (NBA).
Aslanly said the central bank works to counter organizations which operate in Azerbajani occupied territories and conduct business with financial institutions of the separatist regime.
"As soon as it was discovered that money was being wired to Upper Garabagh via these systems, we demanded that the entities regulating their operation put an end to this. But, since they continued the illegal operations, their activity in the country was halted," Aslanly said.
Aslanly recalled a similar incident two years ago in which regulators of the payment systems that were shut down would have to undertake a commitment to never again work in Azerbaijan`s occupied land.
Aslanly added that the halt of Western Union and MoneyGram has caused no problems for clients, who are now using other money transfer systems.