Azerbaijan put limits on the foreign currency remittances carried out by individuals, residents and non-residents of the country, without opening a bank account.
The changes made in accordance with the '“Rules of Operations on Foreign Currency Carried Out by Residents and Non-Residents of Azerbaijan', approved by the Central Bank, will come into force December 8, Trend reports.
Individuals will be able to transfer abroad no more than $1,000 in a day and no more than $10,000 in a month without opening a bank account, according to the new rules.
In the first case, the daily limit for the remittances won’t be applied if an individual, who is Azerbaijan’s resident, has a document confirming blood tie with the person who is to receive the funds, but the monthly limit will remain at $10,000.
