NBA bans activity of MoneyGram in Azerbaijan

And it has recently turned out that in early September of this year the National Bank called on all banks of Azerbaijan to stop cooperating with MoneyGram.

"It should be noted at once that on the basis of the Azerbaijani legislation that provision of any banking services in Azerbaijan without a special license, including money transfer is a law breach.

As for the activity of MoneyGram in our country, despite numerous warnings of the National Bank of Azerbaijan, MoneyGram, violating the Azerbaijani law and all international norms, has not suspended operation in the occupied lands, thus de-facto assisting to Nagorno Karabakh separatists.

In this connection, on September 9 of 2008 the National Bank instructed all Azerbaijani banks to cut all business ties with the MoneyGram monetary transfers system.

This issue is under careful and permanent attention of the National Bank.

In this connection a monitoring of commercial banks and systems of monetary transfers, operating in Azerbaijan is held", sources from the National Bank of Azerbaijan.

In turn, it should be noted that Day.Az will hold its own monitoring and in case cooperation of our banks with MoneyGram is revealed we will inform both the National Bank officials and our readers about it.

/Day.Az/