OREANDA-NEWS. November 14, 2011. The Central Bank of the Republic of Azerbaijan held a meeting with the participation of the representatives from the Ministry of Internal Affairs, the Tax Ministry and the Ministry of Economic Development on strengthening the fight against falsification of cash, reported the press-centre of CBA.

The meeting was opened by Executive Director of the Central Bank Agshin Valiyev, who noted that, amid dynamic growth of the country economy, as well as the banking and payment systems of the country, trust in the Azerbaijani manat and attraction of the national currency as a circulation facility paved the way to its transformation to a strong currency on a regional scale.

With all this in the air, there are elevated potential risks on falsification of manat which necessitates strengthening of relevant measures to fight against falsification of the currency and high coordination between relevant state authorities.

The Central Bank launched a relevant structural unit to more effectively manage potential risks.

A.Valiyev, in parallel, emphasized discovery of wide-spread facts of imitations of banknotes of various denominations on certain products which resulted in lots of applications of the population to the Central Bank, as well as other state structures.

The representatives of the Ministry of Internal Affairs, the Tax Ministry and the Ministry of Economic Development stressed that, such cases lead to disagreement among the population and there are certain cases of fraud through imitated banknotes.

According to the information of the employee of the Ministry of Internal Affairs, as a result of the latest negotiations with the Central Bank the law-enforcement bodies halted import of various products with imitation of banknotes engraved on and measures are under way to recover them from retailers.

The discussion was finalized with the decision on launch of the relevant legislative base with respect to strengthening the coordination against falsification of currency among related state structures, as well as limitation of imitation of banknotes and their reproduction.

The prospects of future collaboration between the Central Bank and the state structures were also discussed.

The meeting ended with signing of a relevant protocol. Employees of a number of public and commercial institutions will be educated on protective elements of the national monetary unit.