By AZE.US
Azerbaijan’s Central Bank has issued a binding order to Rabitəbank after the lender failed to comply with a provision of the rules governing cash operations, the storage of cash and other valuables, and cash collection.
The regulator said the bank breached Section 3.20 of those rules.
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Citing Article 47.4 of the Law on Banks, it ordered Rabitəbank to strengthen its internal controls to prevent a recurrence.
The Central Bank’s notice did not specify the circumstances of the violation or announce a fine.
AZE.US