Central Banking

Azerbaijan revokes money-transfer ban

The National Bank of Azerbaijan has repealed a ban on remittances made through two of the money-transfer industry's biggest names.

The central bank said it would allow Western Union and MoneyGram to operate in the country after cutting both off at the end of July on evidence that it was providing payments to breakaway regions.

The central bank said that Western Union and MoneyGram had now agreed to stop payments to bodies deemed to be working illegally in the breakaway regions.

"Western Union