Branches of foreign banks operating in Azerbaijan to make payments to FIMSA

Branches of foreign banks operating in Azerbaijan to make payments to FIMSA
  • Clock-gray 17:48
  • calendar-gray 31 July 2019

Branches of foreign banks, operating in Azerbaijan, will pay a fee to the Financial Market Supervisory Authority of the Republic of Azerbaijan (FIMSA), APA reports.

It was reflected in the Order of President Ilham Aliyev on “Amendments to the Law of the Republic of Azerbaijan on Banks”.

Until now, local banks have made payments to the financial market supervision authority in the amount and manner determined by this authority. After that, banks and local branches of foreign banks will pay financial market supervision authorities in the amount and manner determined by this body.

Ramiz Mikayıloğlu

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