12:08 - 8.09.2023

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September 8, Fineko/abc.az. Banking group HSBC will suspend provision of money transfer services for legal entities in relation to Russia and Belarus from October 27, 2023, ABC.AZ reports with reference to Japanese newspaper Nikkei.

The paper points out, with reference to the internal newsletter for the bank's clients that has been placed at the disposal of the editorial office, that this step is associated with "complication of the regulatory landscape" in the international financial sphere.

The purpose of such a decision was "to minimize operational exposure to risks in Russia and Belarus, even in those areas where such activities are permitted in accordance with applicable legislation".