AZERBAIJAN TO SUSPEND COOPERATION WITH WESTERN UNION, MONEYGRAM
Interfax News Agency
Aug 1 2008
BAKU. Aug 1 (Interfax) – The National Bank of Azerbaijan has bound
commercial banks operating in the republic to suspend business
cooperation with Western Union and MoneyGram money transfer systems,
Interfax was told at the bank.
Commercial banks should not conduct any money transfer transactions
for the systems as of July 30.
The National Bank accounted the suspension of cooperation to the
fact that Western Union and MoneyGram continue money transfers to
breakaway Nagorno Karabakh.
"The National Bank of Azerbaijan told the money transfer systems and
their oversight bodies before about the need to suspend money transfer
to the occupied territories of Azerbaijan warning that otherwise
Azeri banks would be prohibited to cooperate with the systems,"
a bank spokesman said.