Central Bank: We’ll consider application of a bank that wants to open a branch in Nakhchivan


December 7, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) will consider the appeal of a bank that wants to open a branch in Nakhchivan, ABC.AZ reports with reference to the CBA.

In accordance with the Law on Banks, the issuance of a permit to open a bank branch by the financial market supervisory authority is carried out on the basis of a decision and an appeal from the authorized body of the bank.

"At the end of this November 18 branches, 1 sub-branch and 2 exchange offices of 7 banks operate in the Nakhchivan Autonomous Republic. In addition, there are 2 branches of non-bank credit organizations operating on the territory of the NAR (NBCO CJSC Agrokredit and non-bank credit organization Finca Azerbaycan). In 2022, 2 new branches of the bank were opened. In case of an appeal, it will be considered in accordance with the law," the CBA added.