BAKU, Azerbaijan, May 6. The Central Bank of Azerbaijan (CBA) has appealed to the authorities regarding the European Union (EU) sanctions on Yelo Bank OJSC, the CBA Chairman Taleh Kazimov said at a press conference held today, Trend reports.
He noted that some time has passed since Yelo Bank OJSC was included in the 20th sanctions package of the EU.
"We are in constant contact with the bank. We don't see any problems here. The bank is quite stable. The bank is stable in terms of both liquidity and capital adequacy. That is, we do not have any negative expectations regarding the bank. The sanctions imposed by the EU may cause some difficulties in payments.
Investigating the reasons, we, both the bank and the CBA, jointly and separately, appeal to the relevant authorities. This will continue. We hope that in the coming months the EU will change its decision because there is no reason. The bank operates in accordance with both international standards and the country's domestic laws. Probably, there is some misunderstanding in the EU's decision," the chairman pointed out.
