Regulatory Alerts2021-02-16
Regulations on the Form, Content and Submission of Reports of a Local Representative Office of a Foreign Bank
The Financial Markets Supervisory Authority of Azerbaijan mandates local representative offices of foreign banks to submit an annual report detailing their management procedures, current activities, and cash flows. These offices must deliver the report by June 1 of the year following the reporting period, using either a stamped paper format or an electronically signed document. The submission must include the founder bank’s audited annual financial report, internal audit results, and specific data on organizational structure, correspondent accounts, and supervisory actions.
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