(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 14. The Central
Bank of Azerbaijan (CBA) has initiated the process of transferring
certain business processes to commercial banks with the aim of
optimizing cash operations, increasing efficiency, and improving
results, Trend reports.
According to the decision of the CBA Board of Directors dated
August 30, 2023, International Bank of Azerbaijan (IBA) OJSC has
been designated as a bank operator.
Moreover, based on the decision of the Board of Directors of the
CBA dated June 21, 2023, Kapital Bank OJSC has been also chosen as
another bank operator.
Both IBA, and Kapital Bank, along with the funds received from
their clients, will perform the function of sorting national
currency notes received from other banks and the national postal
operator on automated equipment, then releasing them back into
circulation.
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