A special treasury account will be opened to raise funds for the Azerbaijani Army Relief Fund

A special treasury account will be opened to raise funds for the Azerbaijani Army Relief Fund
  • Clock-gray 14:27
  • calendar-gray 08 December 2020

A special treasury account of the State Treasury Agency under the Ministry of Finance of the Republic of Azerbaijan (hereinafter - the State Treasury Agency) shall be opened for the purpose of collecting and using the funds of the Azerbaijan Army Relief Fund, and the State Treasury Agency shall open bank accounts in credit institutions in Azerbaijani manats and foreign currencies, APA reports.

According to the Regulations, the use of the Fund's resources in accordance with the expenditure directions defined by Part 3 of this Regulation is carried out with the consent of the President of the Republic of Azerbaijan.

The proposal of the Ministry of Defense to use the Fund's funds in accordance with the expenditure directions defined by Part 3 of this Regulation shall be submitted to the President of the Republic of Azerbaijan for approval.

The State Treasury Agency carries out financing on the basis of the order of the Ministry of Defense and orders on payments provided for in paragraph 4.3 of this Regulation.

The Ministry of Defense carries out procurements at the expense of the Fund in accordance with the Law of the Republic of Azerbaijan “On Public Procurement”.

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