Azerbaijan To Exchange Banknotes In New Order

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 9. Banknotes will be exchanged in a new order in Azerbaijan, trend reports.

This issue is reflected in the proposed amendment to the law "On the Central bank of the Republic of Azerbaijan", submitted for discussion at today's meeting of the Milli Majlis (Parliament).

According to the amendment, the nominal value of banknotes consisting of an entire part or consecutive parts belonging to the same paper banknote, with at least 60 percent of its surface and at least one of the two serial numbers on it in full will be paid by the Central Bank.

The nominal value of a banknote consisting of incoherent parts belonging to the same paper banknote, with the preservation of at least 60 percent of its surface and both serial numbers on it in full will also be paid by the CBA.

Moreover, the CBA will pay the nominal value of a metal banknote with a preserved description and inscriptions on its undamaged surface in an amount that allows determining its nominal value and has not been deformed.

If it is established that the presented banknote is fake, then the exchange will not be made, and accordingly, its nominal value will not be paid. The counterfeit banknote is non-refundable and will be transferred to the appropriate state body (institution) for taking measures established by law.

Banknotes in foreign currency will not be exchanged by the Central Bank of Azerbaijan.

The amendment was put to the vote and adopted in the first reading after discussion.


Trend News Agency

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.