OREANDA-NEWS. June 23, 2007. The National Bank Administrative personnel adopted decision about liberalization of capital movement by stages and in this basis substitution of permission rate with information rate, reported the press-centre of National Bank of Azerbaijan.

We are aware that, under the circumstances such as globalization in the most countries of the world including CIS countries in the international movement of capital has been liberalized. The national Bank took such step taking into consideration the significance of the liberalization of capital movement in the intensification of national economy integration into world economy, acceleration of mutual direct investment currents, drop of percent levels and also the great role of that in defense of macro-economical balance in the countries faced with large-scale export incomes or with the great number of capital currents.

We have to note that the National Bank of Azerbaijan realizes systematic liberalization of currency operation rate since 1996; within the framework of this strategy, the currency rate was repeatedly liberalized over this period. Since 2004 the rate of current currency operations was entirely unrestricted, but permission rates according to the capital movement had been in force. From this day the permission rate has been substituted with information rate. The new rate "Addendum and changes to the rate regulations of foreign currency bank accounts of the residences of Azerbaijan Republic" confirmed by the Administrative Personnel of the National Bank will be valid after registering in the Ministry of Justice.