Approved by Board decision of National Bank of the Azerbaijan Republic of January 18, 2003 the Protocol No. 1 Register No. 32

Rules of accounting in bank system of the Azerbaijan Republic of means of payment in financial statements

1. General provisions

1.1. These rules are developed according to the laws of the Azerbaijan Republic "About National Bank of the Azerbaijan Republic", "About banks and banking activity in the Azerbaijan Republic", the Civil code of the Azerbaijan Republic and other legal acts of the Azerbaijan Republic, and also regulations of National Bank of the Azerbaijan Republic and determine accounting treatment in bank system of the Azerbaijan Republic (further - "bank") calculations with means of payment in financial statements.

1.2. Legal relationship on carrying out calculations with means of payment are regulated on the basis of requirements of the Civil code of the Azerbaijan Republic.

2. Concepts

2.1. Calculations with means of payment in bank system are implied as calculations for transactions with plastic cards, checks and other means of payment.

2.2. Plastic cards are the personal means of payment allowing the owner of the card to perform cashless payment of goods, works or services, and also to receive cash from banks and ATMs. The procedure for use of plastic cards is regulated by cross liabilities between the owner of the card and emitting bank.

2.3. Plastic cards are issued to physical persons and legal entities.

2.4. For each owner of the card the bank opens the separate bank account.

2.5. Corporate cards are the plastic cards allowing the owner of the card who is the legal entity to make transactions on own account.

2.6. Transactions with plastic cards are made:

by means of ATMs;

by means of pos-terminals.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info