A SUPPLEMENT TO EUROMONEY – April 1997The banking sector of the Azerbaijan RepublicA banking system was established in Azerbaijan after the collapse of the soviet Union with the proclamation of independence of Azerbaijan in 1991. A legal framework for the banking sector was set up by presidential decree in February 1992 (which established the National Bank of Azerbaijan). In addition to this, consequent Laws on Banks and Banking Activity and the Law on the National Bank of Azerbaijan were passed in August 1992. |
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