The Baku branch of Bank Melli Iran has resumed operations

The Baku branch of Bank Melli Iran has resumed operations.

This was reported to APA by the branch.

According to the information, the Baku branch of the bank resumed operations on April 29. It has already started issuing loans and accepting deposits.

It should be noted that the Central Bank of Azerbaijan began inspections at the branch in May 2023. Since that period, with the exception of foreign exchange operations, restrictions were imposed on all other operations. The Chairman of the CBA, Taleh Kazimov, in his statement on this matter, noted that some shortcomings were identified in the branch, and restrictions were imposed on certain services: "The bank complies with regulatory requirements and does not pose a risk to the financial sector. After eliminating the identified shortcomings, it will be able to continue its activities."