(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 5. The Central
Bank of Azerbaijan may set an upper limit on currency exchange
operations carried out by persons who have received a license to
operate in this area, trend reports.
This is reflected in the proposed amendment to the law
"On the Central Bank of the Republic of Azerbaijan", which was
submitted for discussion at today's meeting of the Committee of the
Milli Majlis (Parliament) on economic policy, industry and
entrepreneurship.
A person wishing to carry out activities in this area
must apply to the financial market supervisory authority to obtain
a license. According to the draft, this supervisory authority may
be the Central Bank of Azerbaijan.
The application must also be accompanied by a copy of
the charter of a non-resident legal entity, the decision of the
authorized management body on the establishment of a branch, the
financial statements of a non-resident legal entity that has been
audited for at least the last three financial years (and when
creating a legal entity for less than three years) and the
auditor's opinion.
Will be updated
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