Baku branch of Iranian National Bank restricted
ECONOMICS 26 May 2023 - 12:15
The Central Bank of Azerbaijan (CBA) has restricted the activities of the branch of the Iranian National Bank (Bank Melli Iran-Baku) in Baku.
Report informs citing the branch that the regulator sent a letter to the credit institution with a demand to suspend all banking operations (taking deposits, issuing loans, etc.), except for money transfers from the account. Bank Melli Iran-Baku did not make any statement in connection with the CBA's decision.
The branch of the Iranian National Bank has been operating since 1993. Its authorised capital amounts to 73.611 million manats.
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