The Central Bank of Russia publicized the agreement on cooperation in the sphere of banking control between the CB and the National Bank of Azerbaijan.

Mediamax reports that the agreement was signed in December 2006.

In accordance with the agreement, the banking control bodies realize cooperation in the sphere of banking control over the activities of the parent credit organizations and their trans-boundary establishments, maintaining the requirements of their national legislation.

The banking control bodies exchange information on the condition and the development of the banking sector, the basic requirements of the national legislation in the sphere of banking control, as well as on their changes.