Baku Interbank Currency Exchange (BBVB) and Central Bank of Azerbaijan (CBA) sign contract

Baku Interbank Currency Exchange (BBVB) and Central Bank of Azerbaijan (CBA) sign contract on connection of BBVB to bank system Temenos T24

On February, 6th, 2012 the Baku Interbank Currency Exchange (BBVB) and the Central Bank of Azerbaijan (CBA) signed the contract on connection of BBVB to bank system Temenos T24.

The given decision will allow BBVB:

- to carry out payments in real time;

- to receive operatively the information on movement of funds on accounts of BBVB;

- to carry out direct export of payments to CBA system T24;

- to supervise more operatively process of execution of payment orders;

- to accelerate process of settlement following the results of trading sessions;

- to raise safety level of settlement.

Thus, the financial market of Azerbaijan has taken one more step to its development. BBVB liquidity growth on an exchange segment of the currency and money markets expects.