BOARD DECISION OF CENTRAL BANK OF THE AZERBAIJAN REPUBLIC

of July 30, 2014 No. 18/2

About modification in "Regulations, procedure of payments and storages of required reserves"

Considering the low rate of inflation, the aggregate demand and growth rates of money supply in the republic, and also for the purpose of branching of economy, creation of conditions for increase in investment activity in the real sector and by that maintenance of economic growth, according to board decision of the Central Bank of the Azerbaijan Republic of July 30, 2014 No. 18/1 of regulation of required reserves on all deposits of banks decreased from 3% to 2%. With respect thereto the Board of the Central Bank of the Azerbaijan Republic according to articles 22.0.17 and 32.1 of the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic", decides:

1. Make changes to "Regulations, procedure of payments and storages of required reserves" it (is applied).

2. Charge to Legal department (R. Melikova) to provide within 3 days submission of this decision to the Ministry of Justice for inclusion in the State register of legal acts of the Azerbaijan Republic;

Approved by Board decision of the Central bank of the Azerbaijan Republic of July 30, 2014 No. 18/2

Change in "Regulations, procedure of payments and storages of required reserves"

In Item 2.2 "The regulations approved by Board decision of the Central Bank of the Azerbaijan Republic of July 10, 2012 No. 16/1, procedure of payments and storages of required reserves" the words "3 (three)" shall be replaced with words "2 (two)".

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