20:00, 12 June 2010

Azerbaijan suspends "Leader" money transfer system

The Central Bank of Azerbaijan (CBA) has instructed the banks operational in the country to suspend – starting June 11 – their business cooperation with the money transfer system "Leader", which is continuing its activity in Nagorno-Karabakh.

In the opinion of the CBA, "the 'Leader' operated illegally in the territory of Azerbaijan, occupied by Armenia," the "Trend" Agency quotes the today's statement of the bank regulator.

"Despite numerous warnings, the 'Leader' system continued making money transfers to the occupied territory; therefore, a decision was made to suspend Azerbaijan banks' cooperation with it," the "1news.az" Agency further quotes the CBA's statement.

On June 8, for the same reasons Azerbaijani banks suspended money transfers within the MIGOM system.