16:59 - 28.03.2024

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March 28, Fineko/abc.az. The Central Bank of Azerbaijan has issued a binding order to Azerbaijan Industrial Bank OJSC in connection with the improvement of internal procedures, ABC.AZ reports, referring to CBA’s message.

The order was issued in accordance with the requirements of Article 47 of the Law on Banks, given that as a result of incorrect calculation of the liquidity coverage ratio at the end of February, the report submitted to the CBA did not satisfy the requirement to hold the institution above the limit set by Paragraph 7.2 of the Rules for managing liquidity risk in banks.

This violation does not pose a threat to the financial stability of the bank.