Regulatory Alerts2025-05-19
Charter of Accounts for Azerbaijan's Banking System and Methodical Guidelines
The Central Bank of the Republic of Azerbaijan issued Decision No. 32 on 25 December 2012 to establish a unified Charter of Accounts and Methodical Guidelines for the national banking system. This regulatory framework mandates compliance with International Financial Reporting Standards (IFRS) effective 1 January 2012, standardizing the recognition and classification of accounting operations for both the central bank and commercial credit institutions. The document details a five-part account structure covering assets, liabilities, capital, profit and loss, and off-balance sheet items, while specifying currency classifications, maturity thresholds, and distinct account symbols to ensure consistent financial reporting across all banking entities.