The Central Bank of Azerbaijan (CBA) has issued a mandatory order to “Rabitabank” OJSC.
“Elchi” reports this citing the CBA.
According to the information, the Bank did not comply with the requirements of clause 3.20 of the “Rules for conducting cash operations, storage and collection of cash and other valuables in credit institutions, payment institutions and electronic money institutions”.
Therefore, guided by the requirements of Article 47.4 of the “Law on Banks”, a mandatory order has been issued to the credit institution to take necessary measures to strengthen internal control systems in order to prevent the recurrence of the mentioned cases in the future.