Bank Melli Iran’s Baku Branch has fully resumed its operations, the branch told APA-Economics.
According to the information, the bank's Baku branch resumed its activities as of April 29. The branch has already begun issuing loans and accepting deposits.
Note that the Central Bank of Azerbaijan (CBA) began inspections at the Branch in May 2023. Since that time, all operations except for foreign exchange transactions had been restricted. In a statement regarding the matter, CBA Chairman Taleh Kazimov noted that certain shortcomings had been identified at the Branch, and some services were limited. The bank meets regulatory requirements and does not pose a risk to the financial sector. After eliminating the identified shortcomings, it would be able to continue its operations.
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