Azerbaijani banks have active operations with Egyptian banks?

The Azerbaijani banks do not have active correspondent relationships with Egyptian banks on the basic banking transactions, Deputy Chairman of the Central Bank of Azerbaijan (CBA) Vadim Khubanov Told Trend.

"Therefore, our local banks have no problem in connection with events in Egypt," he said.

There are also no worries in respect of currency reserves held by the Central Bank, because they are not stored on the territory of Egypt.

"The CBA is currently working with the supervising authority of Egypt, although in future it is possible to establish cooperation with them as with the central banks of other countries," the CBA said.

The manifestations with the requirements of conducting economic and political reforms and the resignation of 82-year old President Hosni Mubarak, ruling the country for 30 years, were launched in Egypt on January 25. On Friday, the mass protests continued in Cairo and other Egyptian cities. Roughly 150 people died, more than 4,000 were injured.


/Trend/