NATIONAL BANK OF AZERBAIJAN CALLS ON BANKS TO STOP OPERATIONS WITH WESTERN UNION AND MONEYGRAM

Interfax News Agency
Aug 1 2008
Russia

The National Bank of Azerbaijan has called on commercial banks
operating in the country to cease money transfer operations with
Western Union and MoneyGram, the National Bank told Interfax.

According to reports, banks in Azerbaijan, as of July 30, should stop
implementing operations with the aforementioned money transfer systems.

The National Bank said that the decision to stop operations with
Western Union and MoneyGram was the result of continuing illegal
money transfers to Nagorno-Karabakh.

"The National Bank also earlier warned these money transfer systems
and their controlling bodies about the necessity of stopping transfers
to the occupied territories of Azerbaijan. Failing to do so, banks
in Azerbaijan would be forbidden to work in partnership with these
systems," a National Bank representative said.