Approved by Board decision of National Bank of the Azerbaijan Republic of November 3, 2004 the Protocol No. 19

Procedural Rules of carrying out bank checks

I. General provisions

These rules are prepared according to the Laws of the Azerbaijan Republic "About banks", "About National Bank of the Azerbaijan Republic" and establish procedural rules of the organization and conducting bank checks by National Bank (further - National Bank) the Azerbaijan Republic in banks and local branches of foreign banks (further - banks).

2. Purpose and tasks of checks

2.1. Main objective of the checks which are carried out by National Bank in banks is assessment of conformity of their activities to the legislation of the Azerbaijan Republic, including observance of acts of normative nature of National Bank, reliability of accounting, risk management, system effectiveness of internal control, financial condition of bank and perspectives of field operations based on source documents, and also identification of the activities of bank capable to pose threat to interests of creditors and investors.

2.2. Check provides accuracy of the information about activities of banks and allows to carry out the analysis of the different important issues connected with banks, and in particular, conditions of management.

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