On the eve of a number of media, with reference to the report of the Accounts Chamber, distributed information about allegedly identified when checking in the main customs disposal on air transport in customs administration. It was about the output of the cash currency owned by seven banks.
As stated by HaqQin.az in the press service of the State Committee, these approvals are absolutely unfounded, the customs authorities in accordance with the law fully fulfill the duties assigned to them.
Translation and import into Azerbaijan Currency by residents that are legal entities, as well as their translation and export from Azerbaijan, are carried out in accordance with Article 8.3 of the Law “On Currency Regulation”.
In the statement of the State Committee, it is said that the export of cash banks outside Azerbaijan in equivalent of about 1.1 billion manat was carried out in an official manner and in accordance with the requirements of legislation. For all exports there are customs declarations.
This kind of operation, as confirmed by the Central Bank, pursue the purpose of making a currency to correspondent accounts of banks in foreign banks (strengthening the correspondent account). Thus, domestic commercial banks cannot carry out payment orders of their customers on import operations, including transactions on documentary operations, if they do not provide the required amount of the balance (Cash Collateral) on their accounts in foreign correspondent banks. That is, the conduct of cash banks in its accounts in foreign correspondent banks is fully consistent with the usual practice of banking and national legislation.
“As for the views common in the media about the” customs control “for the receipt of cash on the correspondent account abroad, then we emphasize that the State Customs Committee does not have such a function and obligations, as control over arrival in the address of the appointment of any goods exported to our country, including cash currency funds. In case of sending cash abroad, these export operations of commercial banks are necessarily reflected on their balance sheet, and monitoring the carrying movement of cash is included in the function of the relevant authority, “the State Divation statement says .