Approved by Board decision of National Bank of the Azerbaijan Republic of June 28, 2006 No. 17

Rules on the organization of exchange points and carrying out exchange transactions

1. General provisions

1.1. These rules are prepared according to the Laws of the Azerbaijan Republic "About currency control", "About banks", "About National Bank of the Azerbaijan Republic" and determine rules by issue of permissions and cancellation of permissions to opening of exchange points in the territory of the Azerbaijan Republic, and also by the organization of their activities and carrying out transactions for currency exchange.

1.2. The determinations used in these rules mean the following:

1.2.1. bank - the legal entity performing unrestricted transactions on exchange of foreign currency based on the banking license granted by National Bank of the Azerbaijan Republic (further - National Bank).

1.2.2. exchange point - the bank department performing exchange transactions.

1.2.3. exchange transactions - transactions on purchase and sale and exchange of cash foreign currency and travel checks in foreign currency.

1.2.4. cash foreign currency - the bank notes in the form of paper and metallic currency which are legal means of payment in the relevant states, or group of the states.

1.2.5. operational day - in working hours on rendering services to clients in exchange point.

1.2.6. accounting of transactions (accounting of information) - registration according to rules of exchange services and transactions and movement of national and foreign currency, travel checks in foreign currency between bank and exchange point during the day.

1.2.7. documents of day - the processed documents in exchange point during the operational day.

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