Baku. Vahab Rzayev – APA-Economics. As of October 1, 2010, the volume of L/C operations conducted by Azerbaijan-based banks made AZN 417.8 mln, up 60.8% compared with a year ago, 46.9% from the beginning of this year.
Remind that, the L/C means the bank’s order to other bank about the conduction of service In accordance with customer’s desire. In this case, the customer’s bank operates as a guarantor. The L/C operations mainly are used in trade, including foreign trade.
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