BAKU, Azerbaijan, May 6. The Central Bank of
Azerbaijan (CBA) has appealed to the authorities regarding the
European Union (EU) sanctions on Yelo Bank OJSC, the CBA Chairman
Taleh Kazimov said at a press conference held today, Trend reports.
He noted that some time has passed since Yelo Bank OJSC was
included in the 20th sanctions package of the EU.
"We are in constant contact with the bank. We don't see any
problems here. The bank is quite stable. The bank is stable in
terms of both liquidity and capital adequacy. That is, we do not
have any negative expectations regarding the bank. The sanctions
imposed by the EU may cause some difficulties in payments.
Investigating the reasons, we, both the bank and the CBA,
jointly and separately, appeal to the relevant authorities. This
will continue. We hope that in the coming months the EU will change
its decision because there is no reason. The bank operates in
accordance with both international standards and the country's
domestic laws. Probably, there is some misunderstanding in the EU's
decision," the chairman pointed out.
