|Banks in Baku||
Privatization still has a long way to go: state owned banks account for over three quarters of the deposits in the commercial banking sector.
Both residents and non-residents, either individuals or companies, can freely open foreign currency accounts, nevertheless be very careful in your choice of bank (foreign companies need to register with the Ministry of Justice before being able to open a bank account).
If you are interested in the legal details, consult the English version of the law "about banks and banking activity in the Azerbaijan Republic".
Letters of credit drawn on Azeri banks are the preferred instruments for import / export operations. Bank transfers to Azerbaijan can be a complicated affair as the country does not use IBAN and many bank work via a representative bank in Europe or North America.
The list of banks below is not exhaustive:
HSBC - British Bank
Capital Investment Bank
Gafgaz Inkishaf Bank
Bank of Azerbaijan
(Azerbaycan Cumhuriyeti Uluslararasi Bankasi)
67 Nizami Street
Tel: 93-03-07, 93-41-59
National Bank of Azerbaijan
National Bank of Iran
National Bank of Pakistan
Bank of Baku
Ruzu Commercial Bank
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|A to Z of Azerbaijan / A dan Z ye Azerbaycan||