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Tuesday, 25 October 2016


National Bank of Abkhazia celebrating anniversary

2011-02-28 17:22

13987.jpegToday, Abkhaz National Bank is celebrating its twentieth anniversary, reports. Presently, the banking system of the Republic of Abkhazia includes National Bank of the Republic of Abkhazia and 15 credit organizations together with Saving Bank of RA.


According to the materials of the bank's press-service, the main lines of activity of the Bank of Abkhazia include the protection and provision of stability of the monetary circulation in Abkhazia, development and enhancement of the Abkhaz banking system; provision of efficient and uninterrupted functioning of the settlement system.

The time marking of the Abkhaz banking system development started with the adoption of laws "On Central Bank of Abkhaz ASSR" and "On Banks and Banking Activity in Abkhaz ASSR" by Supreme Council of the Abkhaz ASSR on 28 February 1991. 20 years ago, Abkhaz Directorate of the USSR State Bank was transformed into Central Bank of Abkhaz ASSR. 

"Bank of Abkhazia develops and conducts a single state monetary policy in the context of its powers; performs monitoring and control of the commercial banks' activity; carries out events on preventing legalization (laundering) of criminal income and terrorism sponsorship; performs refinancing of commercial banks; renders cash management services to commercial banks, state authorities and budget organizations", - Head of National Bank Illarion Argun underlined in his interview to the journalists.

The registered capital of the Bank of Abkhazia is 370,5 million rubles, bank assets comprising 3 347,2 million rubles; the bank's own capital (considering revenue) is 1 210,8 million rubles; the credits allocated to commercial banks amount to 613,5 million rubles.

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