Finance

Finance

Central Bank: Volume of currency operations is not limited

07 January 2016 14:41 (UTC +04:00)

In connection with this, the CB declares that amendments have been made in its several normative acts in order to apply quicker regulative regime: “The amendments made in “Regulations on calculation of bank capital and its adequacy” and “Regulations on assets classification and loan loss provisioning” will allow banks to use more effectively the significant financial reserves accumulated by them.

Moreover, Central Bank has adopted “Regulations on organization and exchange operations of currency exchange offices” with a new edition. According to requirements of the regulations, a currency operation exceeding USD 500 equivalent amount will be conducted on the basis of ID card while the previous amount was USD 5,000. Volume of operations under these rules is not limited.

Moreover, we announce that the banks meet their commitments before the creditors, including population in accordance with the conditions of agreement and without limitation.

Central Bank will continue to make amendments normative acts. All amendments will be publicized”.