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Local banks to work in enhanced mode during Formula 1 in Baku

10 June 2016 18:17 (UTC+04:00)
Local banks to work in enhanced mode during Formula 1 in Baku

By Amina Nazarli

Branches and offices of local banks will work extended hours from June 10 to June 21.

These changes are made in connection with the Formula 1 Grand Prix of Europe to be held in Baku on June 17-19.

As many as 90 branches and offices of 34 banks located around Baku City Circuit and recreation centers will work from 9:00 to 21:00, according to recommendations by the Financial Market Supervisory Body of Azerbaijan.

In addition, a branch of Azerbaijan's Bank Respublika, 'Ofis 24', located at the 67, Neftchilar Avenue, and a branch of DemirBank 'Merkez' at 111, Nizami Street will work round-the-clock seven days a week.

This decision was made to ensure that the residents of Baku and thousands of tourists who will visit Azerbaijan during the Formula 1 are provided with unhindered access to banking services, in particular the currency exchange.

The decision was probably made after the currency exchange problems that tourists faced during the national holiday -- Novruz -- this March, when many local banks did not work, and tourists had to exchange foreign currency into the national manats in the hotels they stayed.

The “royal race” has a large number of fans and comes next after the Olympic Games and the World Cup.

Baku City Circuit (BCC) is the second longest F1 track on the calendar, with a length slightly over six kilometers as an anti-clockwise layout. Many describe this track as the most complex, entertaining and very curious, for both racers and spectators.

The organizers of the Baku City Circuit say that half of the tickets have been purchased by foreigners and the other part by national fans.

The tickets have been bought by citizens of Russia, the UK, Ukraine, and European and Arab countries. In general, the tickets were purchased in 37 countries.

Nigar Arpadarai, Head of Marketing and Communications at BCC emphasized that some stands and hotels are already fully booked.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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