Information by the Central Bank

01-07-2020

30 June 2020, Baku: Clarifying the media reports on operation of private currency exchange offices in Baku, we would likte to state that currently only banks and their branches, as well as branches and divisions of the Azerpost LLC have the right to exchange currency. The Central Bank of the Republic of Azerbaijan has not licensed other individuals and legal entities to deal with currency exchange activities in accordance with the Law of the Republic of Azerbaijan on Currency Regulation. It is illegal if any legal entity or individual other than the above-mentioned organizations engage in such activities.

We recommend that media representatives clarify the issue with the Central Bank prior to disseminating such information and provide public support to prevent illegal currency exchange activities by providing an accurate address if they actually encounter such facts.