Azerbaijan central bank plans no new restrictions on Bank Melli Iran

Azerbaijan’s central bank has no plans to impose new restrictions on the local branch of sanctions-hit Bank Melli Iran, Governor Taleh Kazimov told a news conference on Thursday.

“We have no plans to impose any new restrictions. The bank complies with the central bank’s requirements and the country’s laws,” Kazimov said.

Bank Melli Iran accounts for less than 1% of Azerbaijan’s banking market across various indicators, he said. It continues to operate in the country despite having been under sanctions for many years.

Kazimov said he was aware of discussions in the United States concerning the bank’s branch network, but no action against its Azerbaijani branch was currently planned.

“It is under our supervision, and we inspect it just like other banks,” he said.

Kazimov added that the central bank saw no serious problems with the operations of the bank, which has long been present in Azerbaijan.
 

N.Tebrizli