The Financial Markets Supervision Authority (FIMSA) did not prohibit the withdrawal of funds by customers from their bank accounts, said adviser to the head of the FIMSA Board of Directors Rufat Abbasov.
He recalled that from January 1, 2017, the law On Non-Cash Settlements came into force, according to which a special regime was introduced, as well as certain restrictions for non-cash settlements between taxpayers.
Abbasov stressed that, in connection with the application of the law, FIMSA was entrusted to verify the compliance of the withdrawal of funds from banks with the law On Combating the Financing of Terrorism and Legalization of Money and Other Property Acquired by Criminal Way.
“Within two months of the entry of the law into force, FIMSA conducted monitoring, in connection with which the banks were given additional recommendations, especially regarding operations that do not have economic goals. FIMSA also urges business entities to adhere to the requirements of the law On Non-cash Settlements, he said. ------71D
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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