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National Bank Of Azerbaijan Calls On Banks To Stop Operations With W

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  • National Bank Of Azerbaijan Calls On Banks To Stop Operations With W

    NATIONAL BANK OF AZERBAIJAN CALLS ON BANKS TO STOP OPERATIONS WITH WESTERN UNION AND MONEYGRAM

    Interfax News Agency
    Aug 1 2008
    Russia

    The National Bank of Azerbaijan has called on commercial banks
    operating in the country to cease money transfer operations with
    Western Union and MoneyGram, the National Bank told Interfax.

    According to reports, banks in Azerbaijan, as of July 30, should stop
    implementing operations with the aforementioned money transfer systems.

    The National Bank said that the decision to stop operations with
    Western Union and MoneyGram was the result of continuing illegal
    money transfers to Nagorno-Karabakh.

    "The National Bank also earlier warned these money transfer systems
    and their controlling bodies about the necessity of stopping transfers
    to the occupied territories of Azerbaijan. Failing to do so, banks
    in Azerbaijan would be forbidden to work in partnership with these
    systems," a National Bank representative said.
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