National Bank of Azerbaijan
| Headquarters | Baku, Azerbaijan |
|---|---|
| Coordinates | 40°22′43.18″N 49°50′43.39″E / 40.3786611°N 49.8453861°E |
| Established | 11 February 1992 |
| Governor | Elman Rustamov |
| Central bank of | Azerbaijan |
| Currency |
Azerbaijani manat AZN (ISO 4217) |
| Bank rate | 5.25% |
| Website | www.cbar.az |
The Central Bank of Azerbaijan (CBA, Azerbaijani: Azərbaycan Mərkəzi Bankı) is the central bank of Azerbaijan Republic. The headquarters of the bank are located in the capital city Baku. Is established on the basis of the State Bank, the former USSR Promstroybank, the Agroprombank of the USSR pursuant to the Decree of President of the Republic of Azerbaijan on the Launch of the National Bank of the Republic of Azerbaijan, dated 11 February 1992.
The Charter of the Azerbaijan State Bank was approved on September 16, 1919 shortly after the establishment of the Azerbaijan Democratic Republic on May 28, 1918 and on September 30 the Bank started functioning.
The occupation of Azerbaijan by Bolshevik Russia on April 28, 1920 resulted in the liquidation of the existing financial-credit system of the country. The State Bank of Azerbaijan was renamed the Azerbaijan Peoples' Bank. All banks and other credit institutions were nationalized and merged to the Peoples' Bank. Thus, the banking business was exclusively monopolized by the state.
Article 14 – Banking System and Money Circulation – of the Constitutional Law on the Basis for Economic Independence of the Republic of Azerbaijan, dated May 25, 1991, stipulated the legal basis of the independent banking system and circulation of the national monetary unit of Azerbaijan, as well as set the status and authorities of the central bank.
The restoration of the state independence on October 18, 1991 set a legal basis for the launch of the banking system of the independent Republic of Azerbaijan, including the central bank.
In line with the Constitutional Law, at the Decree of President of the Republic of Azerbaijan on Launch of the National Bank of the Republic of Azerbaijan, dated 11 February 1992, the National Bank of the Republic of Azerbaijan was established on the basis of the State Bank, the former USSR Promstroybank, the Azerbaijani bank of the Agroprombank of the USSR.
The law on the National Bank of the Republic of Azerbaijan of 1992, 1996, and 2004 set, strengthened and developed the legal status and authorities of the central bank of independent Azerbaijan.
As a result of the National Referendum of 18 March 2009, the bank (“The National Bank of the Republic of Azerbaijan”) was renamed “The Central Bank of the Republic of Azerbaijan”.
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