BANK OF BAKU
AUDITORS REPORT AND FINANCIAL
STATEMENTS AT
31 DECEMBER 1997 Note 8 - Cash and due from National Bank
Included in cash and due from National Bank is the obligatory
reserve of AZM 111,666 maintained as a non-interest bearing deposit under
regulations of the National Bank of Azerbaijan. The remaining balances represent
cash on hand and amounts with the National Bank related to daily settlement and
other activities, which were available for withdrawal at year end.
