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ARMENIA MOVES TO BAN WESTERN UNION
Azeri Press Agency
Aug 25 2008
Azerbaijan
Baku. Nijat Mustafayev - APA-ECONOMICS. Azerbaijan's central bank has
demanded local banks to halt operations with the world's top payment
transfer company, Western Union because it stopped providing services
in the Nagorno-Karabakh at the request of Azerbaijan.
Observers said Armenian reacted to Western Union's decision at
Azerbaijan's request.
RIA Novosti quoted the central bank as saying Western Union violated
the terms of agreements with Armenian banks by not making available
services to the local banks' branches in the Nagorno Karbakh.
Illegally occupied by Armenia, the Nagorno Karabakh area is an
internally recognized territory of Azerbaijan.
Azerbaijan's central bank gave green light to local banks to resume
operations with payment transfer company Western Union and its smaller
peer MoneyGram after the both companies promised to discontinue money
transfer transactions with the occupied territories of Azerbaijan
through Armenia.
Azerbaijan blocked Western Union and MoneyGram on July 30 and renewed
clearance for money transfers through these systems on August 14.
Azeri Press Agency
Aug 25 2008
Azerbaijan
Baku. Nijat Mustafayev - APA-ECONOMICS. Azerbaijan's central bank has
demanded local banks to halt operations with the world's top payment
transfer company, Western Union because it stopped providing services
in the Nagorno-Karabakh at the request of Azerbaijan.
Observers said Armenian reacted to Western Union's decision at
Azerbaijan's request.
RIA Novosti quoted the central bank as saying Western Union violated
the terms of agreements with Armenian banks by not making available
services to the local banks' branches in the Nagorno Karbakh.
Illegally occupied by Armenia, the Nagorno Karabakh area is an
internally recognized territory of Azerbaijan.
Azerbaijan's central bank gave green light to local banks to resume
operations with payment transfer company Western Union and its smaller
peer MoneyGram after the both companies promised to discontinue money
transfer transactions with the occupied territories of Azerbaijan
through Armenia.
Azerbaijan blocked Western Union and MoneyGram on July 30 and renewed
clearance for money transfers through these systems on August 14.