On amendments to the ‘Regulations on sale of jubilee and commemorative coins issued into circulation by the Central Bank of the Republic of Azerbaijan’

14-10-2022

14 October 2022, Baku: The Central Bank of the Republic of Azerbaijan carries out the sale of jubilee and commemorative currencies issued to circulation in accordance with the ‘Regulations on sale of jubilee and commemorative coins issued into circulation by the Central Bank of the Republic of Azerbaijan’ approved by the Resolution No. 38/1 of the Management Board of the Central Bank dated 11 August 2020 (hereinafter the ‘Regulations’).

By the Resolution of the Management Board of the Central Bank No. 43/1 dated 28 September 2022, amendments were made to the Regulations, they were entered into the State Register of Legal Acts of the Republic of Azerbaijan and became effective on 12 October 2022.

According to the amendments, in addition to the ‘Jubilee and Commemorative Coins Online Sales System’, it is planned to sell jubilee and commemorative currencies to individuals through the cash desks of the Central Bank, without appealing to the system. According to the requirements of Article 3.4.11 of the Law of the Republic of Azerbaijan ‘On Cashless Settlements’, if the payment amount exceeds 4000 (four thousand) manats,  payment can only be made through a bank account. At the same time, the sale of jubilee and commemorative currencies to legal entities other than banks, including sale through legal entities, will be carried out on the basis of an agreement concluded with the Central Bank.

Furthermore, foreigners and non-residents have the right to buy jubilee and commemorative coins in real-time by registering in the ‘Jubilee and Commemorative Coins Online Sales System’ through the User’s PIN, ‘Asan’ signature or e-signature.

To note, the Central Bank places information about jubilee and commemorative coins for sale, their stock and prices on the official website of the Central Bank on a daily basis (https://www.cbar.az/moneymarks/coins?category=2). Any citizen willing to buy these coins can buy them in real time by entering the ‘Jubilee and Commemorative Coins Online Sales System’ through e-Services Portal of the Central Bank (https://coin.e-cbar.az/home) or buy them on Tuesdays and Thursdays from 10:00 to 13:00 from the cash desks located in the administrative building of the Central Bank at 27 Bulbul Avenue, Baku city and in the regional offices (Yevlakh RC, Ganja RC, Bilasuvar RC, Guba RC, Nakhchivan AR Office).