Central Banks

Central Bank of Azerbaijan

The Central Bank of Azerbaijan is the central bank of Azerbaijan and issues the currency of Azerbaijan: manat

The Central Bank of Azerbaijan is the central bank of Azerbaijan and issues the currency of Azerbaijan: the manat. At the beginning of 1992, the Bank of the former Soviet Union was merged into the State Bank of Azerbaijan; the Law on Banks and Banking Activities and the Law on State Banks of 1992 established the State Bank of Azerbaijan as the highest level of the new system, while commercial banks (state and private) were in the first place. Level two. However, in 1993, the system was undermined due to technological backwardness, serious debts of state-owned enterprises, irregular corporate shareholding, and delays in the transfer of funds by banks. In June 2002, the National Bank of Azerbaijan relaxed some overseas transfer rules for legal residents of Azerbaijan, including increasing the advance payment for import transactions from $10,000 to $25,000 and dropping all restrictions on the withdrawal of foreign currency in cash.
Azerbaijan is an Asian country, a "crossroad" between Eastern Europe and West Asia. It is located in the southeast of Transcaucasus, bordered by the Caspian Sea to the east, Iran to the south, and Russia to the north. The currency used is Azerbaijani Manat (Azerbaijani Manat), code AZN.

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