ABA: No restrictions will be on currency sales
- 10 March 2020
“The banks in Azerbaijan are operating in ordinary enhanced mode. They try to meet all the requirements of customers and meet. There is not any restriction and will not be,” Zakir Nuriyev, the chairman of the Association of Banks of Azerbaijan told APA-Economics.
“Something non-standard will not happen. All the requirements of customers will be met in an ordinary regime within the compliance rules ” Z. Nuriyev said.
Note that currently, the citizens can approach the bank’s branches with their ID cards and receive the funds in the amount of up to US$ 500. When the sale of foreign currency exceeds USD 500 up to AZN 20 thousand, ID and added blank, which should be filled by the customer, have to be given to the cashbox. The blank is presented to the customer in the cashbox. It means foreign currency can be sold in the amount of maximum AZN 20 thousand to one person in the above-mentioned form once a day in the bank. This regulation is applied to both cash operations in cashbox and conversion operations from account to account.
“But our request is not to create agitation anymore. People should not go to additional currency purchases if there is no necessity. Banks are selling and will sell currencies in any volume in a quiet form. Banks have been supplied with enough cash and non-cash currency in order to can meet the requirements of the customers,” Z. Nuriyev added.