Approval of Currency Exchange License Application, Capital Requirements and Operational Regulation

‘Approved’
Central Bank of the Republic of Azerbaijan
Decision № 59
11 December 2023
Sample application for obtaining a currency exchange license (supplemental license) To: Central Bank of the Republic of Azerbaijan

APPLICATION on obtaining a currency exchange license (supplemental license)

1. Information on the applicant:
   1.1. Full name of the legal entity/the branch of the non-resident legal
   entity_______________________________________________________________________
   1.2. Legal and actual address of the legal entity/the branch of non-resident legal entity

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1.3. TIN of the legal entity/ the branch of the non-resident legal entity

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1.4. Contact number__________________________________________________________
1.5. E-mail address ___________________________________________________________
1.6. Address where currency exchange will be carried out_____________________

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1.7. Date and number of the currency exchange license and its supplement (when
applying for a new facility) ____________________________________________________
2. I would kindly ask you to issue me a currency exchange license (supplemental
license).
3. The application is attached with the following documents specified in Article 13-1.2
of the Law of the Republic of Azerbaijan ‘on Currency Regulation’:
№ Documents Number of copies Number of pages Note

Note: Information on relations between participants and the beneficiary owner(s), as well as on civil impeccability is submitted as per relevant regulations of the Central Bank of the Republic of Azerbaijan.
4. Date of application_________________________________________________________
(Day, month, year)
5. Position of the authorized representative of the legal entity/ the branch of non￾resident legal entity (if any), his/her first, last, middle names _______________________

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6. Name, number and the date of issue of the document confirming the authority of the
   authorized representative of the legal entity/ the branch of non-resident legal entity (if any) _______________________________________________________________________ ____________________________________________________________________________
7. Signature of the authorized representative of the legal entity/the branch of the non￾resident legal entity

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(position, first, last names) (signature)
STAMP

‘Approved’
Central Bank of the Republic of Azerbaijan
Decision № 59
11 December 2023
Requirements for the minimum amount of authorized (share) capital for the implementation of currency exchange activities, the amount of and the sample reference on recovery of pledged funds

1. General provisions
   These Requirements have been developed in accordance with Article 13-10.1, 13-
   10.4 and 13-10.10 of the Law of the Republic of Azerbaijan ‘on Currency Regulation’
   (hereinafter – the Law) and determine the minimum amount of authorized (share) capital of the person seeking to obtain a currency exchange license, the amount of the part of the authorized (share) capital to be increased for each additional facility where the currency exchange license holder performs this activity, as well as the amount of pledged funds and a sample reference on recovery of pledged funds.
2. Minimum amount of authorized (share) capital of the person seeking to obtain
   a currency exchange license
   2.1. The minimum amount of authorized (share) capital for persons seeking to
   obtain a currency exchange license, as well as the minimum authorized (share) capital for each additional facility where the licensee engages in this activity, is specified in the table below:
   Region I Region II Region III Region IV
   Minimum amount of authorized
   (share) capital
   600 000 (six hundred thousand) manats
   450 000 (four hundred and fifty thousand) manats 375 000 (three hundred and seventy-five thousand) manats 300 000 (three hundred thousand) manats The part of authorized (share) capital to be increased per additional facility 300 000 (three hundred thousand) manats 150 000 (one hundred and fifty thousand) manats 75 000 (seventy￾five thousand) manats 0 (zero) manat Where:
   Region I – Baku city
   Region II – Absheron district, Sumgayit and Ganja cities Region III – other cities and regions, except for Regions I, II and IV, as well as the Nakchivan Autonomous Republic. Region IV – liberated territories of East Zangezur and Karabakh economic regions.

2.2. The requirements specified in these requirements for authorized (share)
capital also apply to the funds held equal to authorized capital of a branch of a non￾resident legal entity.
2.3. A currency exchange license holder should comply with the requirements of
Item 2.1 of this Regulation when it changes the region where it operates, including the region where the additional facility is located.
3. The amount of pledged funds
3.1. A person seeking to obtain a currency exchange license, or its supplement
should pledge funds equal to 10% of the authorized (share) capital, considering the requirements of Items 2.1 and 2.3 of this Regulation, to be deposited into a special account at the authorized bank.
3.2. In the cases stipulated by the Law, including instances where the collateral
amount determined by these Requirements is reduced by the Central Bank of the Republic of Azerbaijan (hereinafter referred to as "the Central Bank"), the currency exchange license holder submitting the reference to the Central Bank as per Annex 1 to these Requirements may recover pledged funds or the excess part of pledged funds from the bank.
4. Transitional provisions
Currency exchange license holders should undertake necessary measures regarding the formation of the minimum authorized (share) capital as outlined in these Requirements and pledge the specified amount of funds within 6 (six) months from the effective date of these Requirements and submit relevant documents to the Central Bank within that timeframe.

Annex 1
to the ‘Requirements for the minimum amount of authorized (share) capital for the implementation of currency exchange activities, the amount of and the sample reference on recovery of pledged funds Sample reference on recovery of pledged funds REFERENCE of the Central Bank of the Republic of Azerbaijan on recovery of pledged funds № _________ ‘’ ________ _______ il In consideration of the revocation of the currency exchange license (supplemental license) _____________________________________________ based on (Number and date of the license (supplemental license)) ____________________________________________________________________________ (Grounds for revocation of the license (supplemental license) we do not object to recovery of pledged funds in the amount of ________________ ____________________________________________________________________________ (Amount and currency of pledged funds (in numbers and letters) held in the account opened with the__________________________________________ (Name of the authorized bank) by the currency exchange license holder ____________________________________________________________________________ (Full name of the legal entity or a local branch of the nonresident legal entity licensed for currency exchange activities) Authorized person of the Central Bank of the Republic of Azerbaijan ______________________________________________________ (position, 1st and last names)

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(signature)
STAMP

‘Approved’
Central Bank of the Republic of Azerbaijan
Decision№ 59
11 December 2023
Regulation on currency exchange operations by currency exchange license holders and supervision of exchange operations of currency exchange license holders

1. General provisions
   1.1. This Regulation has been developed in accordance with Para 5 and 6-1 of
   Article 3 and Article 13-9 of the Law of the Republic of Azerbaijan ‘on Currency
   Regulation’ (hereinafter – the Law) and Articles 53.4 and 53.7 of the Law of the Republic of Azerbaijan ‘on the Central Bank of the Republic of Azerbaijan’ and determines the order of conducting currency exchange operations by the currency exchange license holders, including organizational, logistic and security requirements for currency exchange operations, a list of supporting documents on those requirements, single forms of reporting (except for financial statements) and documentation of currency exchange operations, procedure and deadline for their submission, requirements for the areas of location of exchange offices, the cap of currency exchange operations, as well as the procedure of the inspection of currency exchange activities and the order of development, the form and the content of inspection reports.
   1.2. The currency exchange license holders should adhere to the requirements of
   the Laws of the Republic of Azerbaijan ‘on Prevention of the legalization of criminally obtained property and the financing of terrorism’ (hereinafter – the AML/CFT Law) and ‘on Targeted financial sanctions.’
   1.3. According to Item 7-2 of Article 1 of the Law, the currency exchange activity
   is the exclusive subject of the activity of currency exchange license holders.
2. Main definitions
   2.1. The definitions used in this Regulation bear the following meanings:
   2.1.1. exchange office – the place (site) where currency exchange license holders
   exchange currency.
   2.1.2. exchange operation –buy/sell/exchange of foreign currency in cash.
   2.1.3. cash exchange of foreign currency – exchange of cash foreign currency of a
   foreign state into cash foreign currency of that foreign state of another denomination.
   2.1.4. cash foreign currency – a monetary unit in the form of a banknote and a coin,
   a legal tender in a foreign state, or a group of states.
   2.1.5. teller – a person who exchanges currency, maintains accounting and
   develops reports outlined in this Regulation.
   2.1.6. transaction day – working hours of customer service at the exchange office
   during a day.

2.1.7. accounting of transactions – relevant documentation of exchange operations.
2.1.8. exchange rate – buy/sell rate of the national currency of the Republic of
Azerbaijan against a foreign currency.
2.1.9. actual exchange rate – the exchange rate calculated by subtracting the
commission from the buy rate or adding the commission (service fee) to the sell rate when a commission (service fee) is applied.
2.1.10. currency transaction accounting software – special software that allows the
exchange office to record transactions on buy, sell and exchange of foreign currency in cash and generate relevant reports.
2.1.11. large shopping mall – a property complex where business activities for the
organization of trade, public catering, entertainment, recreation, and/or other similar services are conducted, and its entrances/exits are protected
2.2. Other definitions used herein bear the meanings specified in the Law of the
Republic of Azerbaijan ‘on Currency Exchange.’
3. Conduction of currency exchange operations
3.1. Currency exchange license holders conduct currency exchange only in cash
and at a customer order.
3.2. Except for currency exchange operations between the currency exchange
license holders, they may not conduct currency exchange between them and other legal entities or unincorporated entrepreneurs for business purposes.
3.3. Exchange offices provide the following currency exchange operations:
3.3.1. buy/sell of cash foreign currency with the national currency.
3.3.2. buy/sell of cash currency of one foreign state for that of another foreign state.
3.3.3. cash exchange of a foreign currency.
3.4. Exchange offices sell over USD500 (five hundred) equivalent to, as well as buy
more than USD10, 000 (ten thousand) equivalent from one customer only with an ID card.
3.5. The exchange office may not conduct only buy or sell operations, except when
foreign or national currencies run out during the transaction day.
3.6. The daily limit for a currency exchange transaction conducted by persons
holding a currency exchange license with a single individual should not exceed 20,000 (twenty thousand) manats or the equivalent amount.
3.7. In addition to the minimum requirements set by the legislation on internal
control programs for the prevention of the legalization of criminally obtained property and the financing of terrorism, currency exchange license holders should have requirements on enhanced customer due diligence in their related rules and procedures and internal control mechanisms on compliance with these requirements in relation to individuals who conduct transactions in the amount exceeding 20,000 (twenty thousand) manats or the equivalent recent one year.
4. Logistic and security requirements
4.1. An exchange office may be arranged in the following zones:

4.1.1. Group I zone – an airport terminal complex.
4.1.2. Group II zones – large shopping malls, hotels, stations, and ports.
4.1.3. Group III zones – in the form of a kiosk, in a separate building or in a part of
a building with access to the street.
4.2. Exchange offices with access to the inside of buildings may be opened only in
Group I and II zones.
4.3. A currency exchange office has at least 6 (six) square meters of space for each
teller, and at least 4 (four) square meters for customer service (at least 6 (six) square meters in Group III zones)
4.4. The construction of the exchange office should provide security of the teller
and protection of valuables.
4.5. The front wall of the exchange office should have an observable view, and the
observance window surrounded with anti-vandal glass and a sliding cash tray opened by the teller to receive and pay money from/to customers.
4.6. Surveillance cameras, fire alarm devices in accordance with the requirements
set by the Ministry of Emergency Situations of the Republic of Azerbaijan, telephone communication devices (microphone, telephone, and internet) should be installed at the exchange office.
4.7. Video surveillance cameras should be installed in the place to record the teller
and the customer, as well as the customer service area. Recorded images should be stored at the exchange office where they were registered for at least 6 (six) months, if it is an additional facility, backup copies of those images should be stored in the main premises of the currency exchange license holder.
4.8. The exchange office should be equipped with computing, money counting
machines, currency validators and a fire-proof safe.
4.9. The exchange office should be equipped with technological facilities
(computer, printer) and relevant software to record every transaction and provide video surveillance. Software of the exchange office should record currency exchange transactions, as well as buy/sell exchange rate per transaction, cash management and cancelled transactions during a transaction day.
4.10. Exchange offices are protected by public authorities in accordance with the
‘List of facilities protected by public authorities’ approved by Decision No. 32 of the Cabinet of Ministers of the Republic of Azerbaijan dated 7 February 2008. The security of exchange offices is arranged by connecting electronic security systems of the facility to the centralized police control panel 24 hours a day and armed guarding during working hours. In non-working hours, if an exchange office, where an amount exceeding 20,000 (twenty thousand) manats is stored, encounters any difficulty in connecting to the centralized police control panel, armed protection for the facility should be provided.
4.11. AZN20 (twenty) thousand, or equivalent – AZN200 (two hundred) thousand
or equivalent may be transported by the exchange office accompanied by an armed security service. Collection service should be used to ensure safe transportation of AZN200 (two hundred) thousand or equivalent and more.
4.12. The following information should be provided in a visible place for
customers at an exchange office:

4.12.1. e-board indicating an exchange rate (the board should indicate the name of
the exchange office with conspicuous letters) and the actual exchange rate if a commission fee (service fee) is applied.
4.12.2. commission fee (service fee), if applicable.
4.12.3. working hours of the exchange office.
4.12.4. a copy of a license or a supplemental license (if any) issued by the Central
Bank of the Republic of Azerbaijan (hereinafter – the Central Bank) to the exchange office.
4.12.5. information on ‘Hotline’ of the Central Bank for consumer appeals.
4.13. The exchange office should provide a copy of the currency exchange license
or its supplement at the customer's request.
4.14. In accordance with Article 13-1.2.9 of the Law of the Republic of Azerbaijan
‘on Currency Regulation’, when applying for a currency exchange license, including its supplement, the documents specified in Annex 1 to this Regulation, as well as a questionnaire of the teller of the exchange office drawn up as per Annex 4 to this Regulation are presented. In case of changes to these documents, including the replacement of the teller, related information and documents are submitted to the Central Bank within 5 (five) working days.
4.15. Cash exchanged by customers may not be stored at the exchange office
5. Organizational requirements
5.1. Hours of business of the exchange office are established by the order of the
currency exchange license holder.
5.2. The teller should have a badge with his/her first, last, middle names, position,
and image on it. The teller should not allow transfer of his/her powers to another person and entry of outsiders into the exchange office.
5.3. The teller should adhere to neat dress code requirements.
6. Reporting on currency exchange operations
6.1. Every transaction at the exchange office should be registered at the time of its
execution as per Annex 2 to this Regulation.
6.2. Information and documents obtained for conducting currency exchange
operations, as well as conducted currency exchange operations, should be stored in accordance with the requirements of the AML/CFT Law.
6.3. When conducting currency exchange transactions, the customer receives a
currency exchange receipt, a strict reporting form for those transactions.
6.4. A currency exchange receipt is drawn in two copies – one for a customer, the
other one for the exchange office and, if applicable, the receipt includes the commission fee (service fee).
6.5. A ‘reference on cash turnover during a day’ is drawn up as per Annex 3 to
this Regulation based on registration data of intraday currency exchange operations.
6.6. After the transaction day ends, actual cash balance is verified for each type of
currency based on the ‘reference on cash turnover during a day.’ If there is a discrepancy

between the reference data and the actual cash balance, the teller of the exchange office documents the discrepancy with a relevant act and delivers to the manager of the currency exchange license holder (except when executive functions are performed by the teller).
6.7. An investigation should be conducted, and appropriate measures should be
taken to find out the reasons for the discrepancy detected.
7. Requirements for submission of information
7.1. Monthly reports on activities of the exchange office and on currency exchange
operations, developed as per Annexes 5 and 6 to this Regulation, are submitted to the Central Bank no later than the first 5 (five) working days of the following month.
7.2. The reports specified in Item 7.1 of this Regulation are submitted either in a
paper carrier or as an electronic document approved with an enhanced electronic signature.
7.3. Exchange offices transmit information on currency operations conducted by
customers to the single information system established in the Central Bank under Article 16-1.1 of the Law of the Republic of Azerbaijan ‘on Currency Regulation’ in accordance with the statute of the system in question and use the information collected in the information system to monitor currency transactions.
8. Supervision of currency exchange activities
8.1. The objective of the supervision of currency exchange activities is to protect
the rights of consumers on currency exchange operations and ensure compliance with the requirements determined in the Law, the Law of the Republic of Azerbaijan ‘on the Central Bank of the Republic of Azerbaijan’, the AML/CFT Law, the Law of the Republic of Azerbaijan ‘on Targeted financial sanctions’ and regulations of the Central Bank.
8.2. The activity of the exchange office is supervised based upon the reports
submitted by the exchange office to the Central Bank, inspections by the Central Bank according to the Law of the Republic of Azerbaijan ‘on the Central Bank of the Republic of Azerbaijan’ and other supervisory measures.
8.3. Currency exchange license holders should submit annual financial statements
and consolidated financial statements to the Central Bank within the deadlines specified in the ‘Regulations on submission and publication of annual financial statements and consolidated financial statements of commercial organizations’ approved by Decision No 97 of the Cabinet of Ministers of the Republic of Azerbaijan dated 27 May 2010.
8.4. Currency exchange license holders should submit reports on currency
exchange operations and on currency exchange activities in the forms and periods specified in this Regulation.
8.5. Findings of each inspection conducted at a currency exchange license holder
are documented with a written inspection report. The inspection report is drawn up as per Annex 7 to this Regulation. The content of the inspection report should be legible and clear. Conclusions should rest upon accurate facts and numbers. All pages of the

inspection report are numbered and signed by the inspector (inspection team members). The copy of the inspection report submitted to the currency exchange license holder is signed by the head of the currency exchange license holder.
8.6. Supervisory measures in relation to currency exchange license holders (license
revocation, cancellation, etc.) are imposed according to this Law and the Law of the Republic of Azerbaijan ‘on the Central Bank of the Republic of Azerbaijan.’
9. Final and transitional requirements
9.1. The requirements of Item 4.3 of this Regulation on the customer service area,
the requirements of Item 4.4, Item 4.5 for anti-vandal glass and sliding cash tray and the requirements of Item 4.10 for armed protection during working and non-working hours do not apply to exchange offices organized in Group I zones, the requirement of Item 4.10 for armed protection during non-working hours does not apply to currency exchange offices organized in Group II zones.
9.2. The requirement of Item 4.3 of this Regulation applies to active exchange
offices 1 (one) year after the date of entry into force of this Regulation, and the area occupied by the exchange office over that period should follow the requirements of the regulations existing before the date of entry into force of this Regulation.

Annex 1
to the Regulation on currency exchange operations by currency exchange license holders and supervision of currency exchange operations A list of supporting documents on organizational, logistic and security requirements

1. A copy of the employment agreement and the order on recruitment of the teller, a copy
   of his/her ID card.
2. A copy of the order on determining the mode of operation of the exchange office.
3. A copy of the technical passport of the facility the exchange office located in.
4. A copy of the document confirming compliance of fire protection devices with the
   requirements set by the Ministry of Emergency Situations of the Republic of Azerbaijan.
5. A copy of the document, confirming interface of electronic security systems of the
   exchange office to the centralized police security panel and of the document confirming its armed protection.
6. Information on availability of the equipment required in Part 4 of this Regulation at the
   exchange point

Annex 2
to the Regulation on currency exchange operations by currency exchange license holders and supervision of currency exchange operations Accounting of currency exchange operations _______________________________________________ (Currency exchange license holder’s name*) _______________________ (License date and time) ‘_’ ______________ 20 № Custo￾mer’s resi￾dency status Custo￾mer’s 1st, last, middle names Name, series and number of ID card, date of issue, issuing agency Currency bought Currency sold Currency exchanged Transaction time Currency Amount Manat equival ent Exchange rate Commissi on (service fee) Currency Amount Manat equivalent Exchange rate Commissi on (service fee) Currency Amount Manat equi￾valent Exchange rate 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Total:
(on currency
)
Executor: _____________________________ Signature: _______________ (Position, first, last, middle names

• Name of the resident legal entity or the branch of the non-resident legal entity.
  if over USD500 (five hundred) equivalent cash foreign currency is sold to or over USD10000 (ten thousand) equivalent is bought from one customer.

Annex 3
to the Regulation on currency exchange operations by currency exchange license holders and supervision of currency exchange operations REFERENCE on intraday cash turnover ________________________________________________ (currency exchange license holder’s name*) _______________________ __________________ (License date and number) (TIN) ‘_’ ______________ 20 Cash balance as of the beginning of the transaction day:
Aggregate over the day:
Cash balance as of the end of the transaction day:
Currency Amount Credit Debit Amount
AZN
USD
EUR
RUB
TRY
GBP
Other (please specify)
Executor: ________________________ Signature: _______________ (First, last, middle names and position)

• Name of the resident legal entity or the branch of the non-resident legal entity.

Annex 4
to the Regulation on currency exchange operations by currency exchange license holders and supervision of currency exchange operations

QUESTIONNAIRE of the teller of the exchange office ________________________________________ (License date and number)

1. Name ____________________________________________________________________
   (First, last, middle names)
2. Registration address _______________________________________________________
3. Actual address (if any) ______________________________________________________
4. Date of birth ______________________________________________________________
   (Day, month, year)
5. Place of birth______________________________________________________________
   (Country, city/district)
6. Citizenship (country) ______________________________________________________
7. Personal identification number (if not applicable, the ID card number)

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8. Contact number(s)______________________________________ (office, home, mobile)

9. E-mail address(es) (if any) ___________________________________________________

10. Last and first names used or changed
    All previous names, reasons for their use or change, as well as the period of use (maiden last name, last names of previous marriages, last names changed legally and, in another order, etc.). Last and first names Period of use Reasons for use/change

Photo

11. Information on conviction
    Yes/No _____________________________________________________________________ (If any, the date of conviction and the article of the criminal law)
12. Information on education and professional experience
    Education
    Name of the educational institution
    Period of education Qualification
    Number of the diploma or the certificate of education
13. Employment
    Provide the following information about your employment or self-employment in a chronological order (starting from the last one). Indicate all periods of unemployment and the reasons for previous dismissals. Name of the institution: _______________________________________________________ Address: ___________________________________________________________________ (Country, city/district, street, zip code) Employer’s last and first names _______________________________________________ Employer’s position _________________________________________________________ Phone number ______________________________________________________________ Your position _______________________________________________________________ Period of employment: from_________ to ____________ Reason for leaving the job _____________________________________________________ ____________________________________________________________________________ (Indicate whether you were fired or offered to resign at your own request) Self-employment ____________________________________________________________ I, the undersigned, hereby confirm the accuracy of the information provided in the Questionnaire. I commit to promptly notify the Central Bank of the Republic of Azerbaijan of any subsequent changes to this information. I do not object to obtaining additional documents or information about me upon request from independent and reliable sources, including public authorities and institutions. Signature:
    Date:

Annex 5
to the Regulation on currency exchange operations by currency exchange license holders and supervision of currency exchange operations Monthly report on activities of the exchange office

1. General information on the exchange office
   1.1. Reporting period
   1.2. Currency exchange license holder’s
   name
   1.3. Currency exchange license holder’s
   address
   1.4. Address of the exchange office*
   1.5. Mode of operation of the exchange
   office*
   1.6. Number of additional facilities
   1.7. Phone number
   1.8. E-mail address
   1.9. License date and number
   2.Balance sheet (in manats)
   Accounting balance items Total
   2.1. Cash funds
   2.2. Deposits with banks
   including blocked pledged funds
   2.3. Fixed assets
   2.4. Other assets
   2.5. Assets, total
   2.6. Debt issued to founders (if any)
   2.7 Other liabilities
   2.8. Liabilities, total
   2.9. Authorized capital
   2.10. Equity, total
2. Income statement (in manats)
   3.1. Retained profit or loss
   3.2. Profit or loss of the current year
   3.3 Profit or loss of previous years
3. Other information about activities
   4.1. Information on technical and other
   problems in the operation of the exchange office over the reporting period

• The address and mode of operation of each additional facility where the currency
  exchange license holder provides this activity is presented as an additional table. Total capital is defined as authorized capital and retained earnings. Head of the currency exchange license holder: ___________________________________ (First, last, middle names, signature) Date: _________________ STAMP

Annex 6
to the Regulation on currency exchange operations by currency exchange license holders and supervision of currency exchange operations Monthly report on currency exchange operations Reporting date: ___ _________ ______ Currency exchange license holder’s name*:
License number and date of issue:

№ Indicator Currency
USD EUR RUB TRY GBP Other (please specify)
1 2 3 4 5 6 7 (...)

1. Buy of cash foreign currency banknotes
   1.1 Buy cash foreign currency
   1.1.1 including the size of buying cash
   foreign currency over USD10000 (ten thousand) equivalent
   1.2 Number of cash foreign currency buy
   operations
   1.2.1 including the number of purchases
   above the equivalent of USD10,000 (ten thousand) per customer
   1.3 Monthly average weighed exchange
   rate on the purchase of cash foreign currency

2. Sell of cash foreign currency banknotes
   2.1 Sell cash foreign currency
   2.1.1 including selling over USD500 (five
   hundred) equivalent to one customer
   2.2 Number of operations on selling cash
   foreign currency
   2.2.1 including the number of sales above
   the equivalent of 500 (five hundred) US dollars per customer
   2.3 Average monthly weighted exchange
   rate on selling cash foreign currency

3. Cash foreign currency exchange operations
   3.1 Size of exchange of cash foreign
   exchange
   Head of the currency exchange license holder: ______________________________________________ (first, last, middle names, signature) Date: _________________

• Name of the resident legal entity or the branch of the non-resident legal entity.
  The size of foreign currency only presented for exchange.
  STAMP

Annex 7
to the Regulation on currency exchange operations by currency exchange license holders and supervision of currency exchange operations Inspection report Currency exchange license holder name _________________________________ License date and number _________________________________ Address of inspection _________________________________ Type of inspection _________________________________ Inspection coverage period _________________________________ Inspection start date _________________________________ Inspection completion date _________________________________ The inspection report consists of the following sections.

1. Executive information on outcome and feedback.
2. General information.
3. Organization of cash management.
4. Compliance with the requirements of legal acts regulating currency exchange.
5. Organization of the reporting.
6. Profitability.
7. Capital.
8. Management.
9. Assessment of the AML/CFT activities.
10. Protection of consumer rights.
11. Organization of information security management.
    Position, first and last names of the inspector (inspection team members) Signature Position, first and last names of the head of the currency exchange license holder Signature The report date ________________