Central Bank of Azerbaijan releases statement on Moneygram’s activity in Karabakh 

Central Bank of Azerbaijan (CBA) has always focused on the measures to fight against the conduction of illegal financial and banking operations in the occupied territories of Azerbaijan, Report informs, citing the Bank.

According to the Bank, it has taken serious steps against the facts at different times and taken measures to stop those operations immediately.

In recent times, there are reports about money transfers via Moneygram, which operated in the occupied territories before the 44-day Patriotic War.

The CBA says that Moneygram illegally operated in the occupied territories in different periods and once it was revealed, adequate measures were taken to stop its operation in accordance with the legislation, international principles. Consequently, the operation of the Moneygram money transfer system in the country was prevented in 2008 and no bank is in cooperation with this system today.

The Bank also regularly monitored the money transfer systems in the country and banned remittances through some of these systems (Unistream, MIGOM, LEADER, Bistraya Pochta, Interexpress, RIA Money Transfer, Intelexpress, Sigue Money Transfer).