The National Bank of Azerbaijan (NBA) has issued 10 licenses for the activities of the currency exchange places in accordance with the rules regulating the activities of exchange bureaus. Rufat Aslanly, the General Director of the NBA, told Trend that simultaneously no less than 20 exchange places exist in Baku in conformity with old rules. The efficiency term of their licenses is expiring late September-early October.
According to Aslanly, at present 20 appeals on opening of new bureaus are under consideration. The banks are appealing for opening of exchange places in the capital city, as the licenses of the exchange places existing in regions, which currently number 70, expires by the land of 2006.
Though the rules enacted into law late this July, they will not referred to the newly opened exchange places, whereas the existing exchange places are functioning in line with the old rules.
The essence of new rules is the increase if status of currency exchanges places and it is planned to adjust them to status of bank divisions. Rule also envisage strengthening of integration operations of exchange places into in the operation system of banks, requirements on their security guidelines, determine the requirements on the professional training of employees of Exchanges places.