CBA defines areas where currency exchangers will operate
The Central Bank of Azerbaijan (CBA) has banned the currency
exchange outside the head offices, branches and offices of banks,
with the exception of tourism zones (especially hotels and
airports), where the currency exchange offices of banks will
continue to operate, the regulator reported on January 14.
Due to the growth of operations with currency exchange in the
country, the Central Bank has restricted, and stopped the
activities of currency exchange offices for effective and efficient
regulation of commercial banks’ operations, to strengthen control
over operations and optimizing costs, said the statement.
Banks have a sufficiently broad branch network to provide services
to the population and entrepreneurs, according to the
statement.
Currently, 914 branches and offices of banks operate in the
country, 458 of which are located in the regions, according to the
CBA.
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