Tokyo, 13 August, /AJMEDIA/
The Central Bank of Azerbaijan (CBA) is carrying out appropriate work to determine the requirements and conditions for the opening of currency exchange offices, the Central Bank of Azerbaijan told AJMEDIA.
The requirements for issuing a license for currency exchange activities are determined by the law of the Republic of Azerbaijan “On currency regulation” and regulatory acts of the CBA.
The CBA was recommended to approve regulatory acts within a six-month period in connection with amendments to the law by the decree of the President of Azerbaijan dated 01.08.2023.
Additional information on the minimum amount of the authorized (joint) capital, as well as on the amount of the part of the authorized (joint) capital that is subject to increase, will be provided after the approval of the relevant rules.
Moreover, the CBA will also provide additional information on the amount of collateral and other requirements for each second and subsequent object in respect of which the person who has received a license for exchange activities carries out this activity will be provided after the approval of the relevant rules.
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