Baku punishing Contact for deleivering
services in Karabakh
16:07 • 02.08.10
The Central Bank of Azerbaijan instructed the commercial banks across Azerbaijan to suspend business with the money transfer system Contact.
According to Azerbaijani news agency Trend the reason is Contact's "illegal activity" in Nagorno Karabakh.
Contact system deals with money transfer without opening an account in Russia, CIS, Baltic and foreign countries. The organizer and clearing center is RUSSLAVBANK CJSC.
Earlier operations on money transfer were suspended by Azerbaijani banks within MIGOM and LEADER systems due to the same reason.
Similar requirements were given to Azerbaijani banks in respect of money transfer systems Western Union and MoneyGram. According to the Central Bank, banks have suspended the operations within the money transfer systems since July 30, 2008, which were resumed August 14 the same year. The decision to resume work with them was taken on the basis of commitments undertaken by the Western Union and Moneygram that they will not transfer money to Karabakh any more in the future.
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