Database on currency exchange operations to be created


November 29, Fineko/ A single database on currency exchange operations will be created.

ABC.AZ reports that this was reflected in the proposed draft amendment to the Law on Currency Regulation" at today's Milli Majlis meeting.

The draft is designed to improve the effectiveness of the supervision of the Central Bank as a currency control body over foreign exchange transactions and establishes the legal basis for the formation and use of single database on foreign exchange transactions conducted by residents and non-residents, including currency exchange transactions.

After discussion, the bill was adopted in the 1st reading.