THE BAKU INTERBANK CURRENCY EXCHANGE AND THE MOSCOW INTERNATIONAL CURRENCY ASSOCIATION SIGNED THE MEMORANDUM OF MUTUAL UNDERSTANDING

Wednesday, 2 May 2012

General Manager of the Baku Interbank Currency Exchange (BBVB) Farkhad Amirbekov and the President of the Moscow International Currency Association (MMVA) Alexey Mamontov signed the memorandum of mutual understanding.
The document signed between the parties provides close cooperation on the basis of equality of the parties for the purpose of creation of conditions to financial institutions of the Azerbaijani Republic and the Russian Federation, for participation in the trades in the MMVA and BBVB trading systems. According to this Memorandum BBVB is the unique (exclusive) partner of MMVA from the Azerbaijani Republic, accordingly MMVA is the unique (exclusive) partner of BBVB from the Russian Federation in the Money market of the above-stated countries. MMVA will render the consulting help to BBVB in the field of introduction of the electronic trade principles with tools of the money market which will promote increase liquidity, transparency and reliability of the money market too