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Azerbaijan To Suspend Cooperation With Western Union, Moneygram

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  • Azerbaijan To Suspend Cooperation With Western Union, Moneygram

    AZERBAIJAN TO SUSPEND COOPERATION WITH WESTERN UNION, MONEYGRAM

    Interfax News Agency
    Aug 1 2008
    Russia

    BAKU. Aug 1 (Interfax) - The National Bank of Azerbaijan has bound
    commercial banks operating in the republic to suspend business
    cooperation with Western Union and MoneyGram money transfer systems,
    Interfax was told at the bank.

    Commercial banks should not conduct any money transfer transactions
    for the systems as of July 30.

    The National Bank accounted the suspension of cooperation to the
    fact that Western Union and MoneyGram continue money transfers to
    breakaway Nagorno Karabakh.

    "The National Bank of Azerbaijan told the money transfer systems and
    their oversight bodies before about the need to suspend money transfer
    to the occupied territories of Azerbaijan warning that otherwise
    Azeri banks would be prohibited to cooperate with the systems,"
    a bank spokesman said.
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