The Central Bank of Azerbaijan (CBA) has taken action regarding Bank Respublika OJSC.
According to CBA's statement, violations of the requirements of the "Rules on Payment Operations and Payment Instruments" were detected during customer transfers and execution of collection orders.
In connection with this, based on Article 47 of the Law "On Banks", the CBA issued a binding order to the bank to strengthen internal control systems and take measures against responsible persons in accordance with the legislation, in order to prevent the recurrence of these incidents.
