Unofficial translation (c) Soyuzpravoinform LLC

RESOLUTION OF BOARD OF CENTRAL BANK OF THE AZERBAIJAN REPUBLIC

of December 20, 2023 No. 62/1

About approval "Regulations on unified information system on currency transactions

Based on article 16-1 of the Law of the Azerbaijan Republic "About currency control" and article 22.1.17 of the Law of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic" the Board of the Central bank of the Azerbaijan Republic DECIDES:

1. Approve "Regulations on unified information system on currency transactions" it (is applied).

2. Represent data on foreign exchange transactions to information system according to "Regulations on unified information system on the currency transactions" approved by part of 1 this Resolution since March 1, 2024, and data on transactions on transfer of foreign currency out of limits of the Azerbaijan Republic - since July 1, 2024.

3. Charge to Legal department (Rena Melikova) in 3-day time to provide submission of this Resolution to the Ministry of Justice of the Azerbaijan Republic for entering into the State register of legal acts of the Azerbaijan Republic.

Approved by the Resolution of Board of the Central bank of the Azerbaijan Republic of December 20, 2023 No. 62/1

Regulations on unified information system on currency transactions

1. General provisions

1.1. This Provision is developed based on article 16-1 of the Law of the Azerbaijan Republic "About currency control" (further - the Law) and determines legal, organizational and technological basis of forming, maintaining and use of unified information system (further - information system) about the currency transactions made by residents and nonresidents for the purpose of implementation of currency exchange control, and also type of the data represented to information system.

1.2. Banks, local branches of foreign banks, the national operator of mail service and person who obtained the license for foreign exchange activities (further - the agent of currency exchange control), represent to information system of the data on the currency transactions established by this Provision.

1.3. Necessary maintenance costs and functioning of information system are financed by means of the Central bank of the Azerbaijan Republic (further - the Central bank). Central Bank supports information system for the purpose of ensuring accomplishment by agents of currency exchange control of the requirements established by the Law, "Rules of making of transactions of residents of the Azerbaijan Republic in foreign currency and also nonresidents in national and foreign currency" (further - Rules) and other acts of normative nature of the Central bank.

1.4. Use of information system free.

1.5. The following data are not disclosed to other agents of currency exchange control:

1.5.1. the data specified in subitems 7.4. 2, 7.5.2 and 7.6.2 this provision;

1.5.2. data on the exchange transactions made in the years preceding the current calendar year;

1.5.3. according to subitem 4.3.8.3 of Rules of the data on the transactions on transfer of foreign currency out of limits of the Azerbaijan Republic made in the months preceding the current calendar month.

1.6. The information system works in real time (24/7/365) at any time, including the non-working days established by the legislation.

1.7. Other questions concerning technical operation of information system which are not provided by this Provision are regulated according to the Instruction of the user placed in electronic office of the user.

2. Basic concepts

2.1. The concepts used for the purposes of this provision have the following values:

2.1.1. the owner - the Central bank providing use of information system by agents of currency exchange control and being the owner and the operator of system;

2.1.2. the user - the agents of currency exchange control entering data on the currency transactions made with clients into information system, and receiving information on the currency transactions made by clients from information system;

2.1.3. the participant - authorized employees of the user;

2.1.4. the client - physical or legal resident persons or nonresidents, and also other structures or plenipotentiaries of these persons making currency transactions through the user;

2.1.5. electronic office - the personal electronic page allowing the participant or the user to enter and use information system with identification by the strengthened digital signature within the functions established by this Provision.

3. Principles of functioning of information system

3.1. The information system functions on the basis of the following principles:

3.1.1. usability - ensuring convenient use of information system and exchange of information without making of additional transactions;

3.1.2. efficiency - provision, acceptance of data on the corresponding transactions, the answer to them, obtaining and exchange of information in the automated and bystry procedure;

3.1.3. continuity - uninterrupted implementation of activities irrespective of the organizational, administrative, technical and other changes entered into information system;

3.1.4. the reporting - providing the reporting in functioning of system, availability of opportunity to trace the performed procedures and their results.

4. Technical and technological infrastructure of information system

4.1. The information system consists of the following elements:

4.1.1. program complex of information system;

4.1.2. central and reserve complex of the equipment of information system;

4.1.3. network infrastructure of information system;

4.1.4. database of information system.

4.2. The program complex of information system includes operating systems, application software, means of information protection and other software. The application software covers the following directions:

4.2.1. electronic office;

4.2.2. single electronic database of currency transactions;

4.2.3. information window for clients on currency transactions;

4.2.4. the module of integration and electronic request of data providing exchange of information with other information systems and resources.

4.3. Servers, devices of memory, cooling system, sources of uninterrupted energy and other technical means enter complex of the equipment of information system.

4.4. The backup copy of information system is created in the reserve center, and the copy of program technical means of information system is stored in this center. The central and reserve complex of the equipment of information system functions under control of the owner.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info