Approved by Board of National Bank of the Azerbaijan Republic of December 29, 2003 No. 22

Rules of creation and accounts presentation in bank system of the Azerbaijan Republic

1. General provisions

1.1. These rules are prepared according to the Laws of the Azerbaijan Republic "About National Bank of the Azerbaijan Republic", "About banks and banking activity in the Azerbaijan Republic", other legal acts of the Azerbaijan Republic, and also regulations of National Bank of the Azerbaijan Republic and requirements of the International Accounting Standards (IAS) and establish rules of creation and accounts presentation in bank system (further - "bank") the Azerbaijan Republic.

1.2. The purpose of these rules is formation of special base of the financial reporting of bank on last periods, and also for realization of comparison to the financial reporting of other banks. For achievement of this purpose in these rules creation and accounts presentation, recommendations about structure of Articles reflected in the reporting and the minimum requirements to contents of the reporting are reflected.

1.3. These rules are applied equally to the financial reporting of separately taken bank and the summary financial reporting of banking group.

1.4. These rules do not extend to interim financial statements.

1.5. The form of the prudential (control) reporting applied for the purpose of bank control is established by the corresponding Rules of National Bank of the Azerbaijan Republic.

2. Purpose of the financial reporting

2.1. The purpose of the financial reporting is submission of information reflecting financial condition, results of activities and change in financial condition of bank.

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