State bank violates norm of obligatory reserve - it will pay a fine

The Central Bank of Azerbaijan has fined the state-owned International Bank of Azerbaijan AZN 272,344. The report says that in order to effectively manage excess liquidity in the banking sector and reduce liquidity concentration the instrument of mandatory reserve norms is used. The mandatory reserve requirements imposed on banks are regulated by the 'Law on the Central Bank', the order of structure ‘Norm, calculation and storage...

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