Residents of Lutsk and guests of the city have repeatedly had the opportunity to visit exhibitions displayed in the hall of the main office of JSC "Zakhidinkombank". Currently, a new interesting information awaits all visitors to the institution – a few days ago, a numismatic exhibition "Monetary Signs of Azerbaijan" opened here. The exhibition is dedicated to the national holiday of this state – Independence Day, which is celebrated on October 18. For visitors' attention is a brief overview of the history of the development of Azerbaijan's credit and monetary system. This republic already at the end of the 19th century had a fairly developed credit and banking infrastructure: treasuries, banks, state savings banks, pawnshops, etc. After Azerbaijan was proclaimed a democratic republic in 1918, the process of developing the financial system became even more active. When the Bolsheviks came to power in 1920, the activities of all private credit institutions were terminated and banking became an exclusively state monopoly. After the collapse of the USSR, Azerbaijan became an independent state. A new stage of formation and development of the national banking system with attributes characteristic of market relations began. The Republic of Azerbaijan was one of the first to switch to a national currency. The monetary unit of this state was named "manat". The exhibition displays samples of the country's national monetary signs of the first and second issues. 1, 10 and 250 manats of the first issue have the same image and differ in color: olive-pink, orange-violet, greenish-gray respectively. On the obverse in the center, the medieval monument Kyz Galasy – the Maiden Tower – is depicted. The reverse side is decorated with a national carpet. On the right at the bottom on a white field in a rosette is the denomination number. However, it very quickly became clear that during the design of the signs an unfortunate miscalculation was made: on the reverse the value of the banknote was not indicated in words. Clever "dealers" took advantage of this and began adding zeros to the number "1". In this regard, a decision was made to order notes with significant changes to the reverse of the banknotes. The exhibition will interest both numismatics enthusiasts and representatives of the numerous Azerbaijani diaspora living in Lutsk. This event will be the first swallow of similar undertakings: the board of JSC "Zakhidinkombank" decided to approach representatives of diasporas of former USSR republics with a proposal to celebrate their national holidays by holding similar exhibitions. After Azerbaijan, the next will be Lithuania.
“Zakhidinkombank” presents Azerbaijan’s monetary system
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