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The document ceased to be valid since July 20, 2017 according to the Resolution of Board of National Bank of the Azerbaijan Republic of July 7, 2017 No. 17/1

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Ministry of Justice

Azerbaijan Republic

On February 8, 2001 No. 2657

Approved by Board decision of National Bank of the Azerbaijan Republic of January 31, 2001 the Protocol No. 3

Rules of establishment and regulation of limits of open foreign exchange position of authorized banks of the Azerbaijan Republic

(as amended on on December 17, 2008)

I. 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 "About currency control". Rules serve regulation of course risks on the foreign currency transactions made by authorized banks.

1.2 For the purpose of these rules of concept "credit institution" and "bank" are used in the values specified in the Law of the Azerbaijan Republic "About banks", the concepts "residents", "nonresidents", "foreign currency", "Currency transactions" and "authorized bank" - in the values specified in the Law of the Azerbaijan Republic "About currency control", and the concept "bank metals" - in the value specified in the Law of the Azerbaijan Republic "About precious metals and gemstones".

1.3. In addition to the concepts interpreted by legal acts of the Azerbaijan Republic, other terms used in the text of these rules shall be understood as follows:

1.3.1. Foreign exchange position - requirements and obligations of authorized banks in this or that currency (including, in bank metals).

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