Talks with Thomas De La Rue to start next week

Elman Rustamov, the chairman of Managing Board of the National Bank of Azerbaijan, told Trend representatives of the British company Thomas De La Rue, which is print the new banknotes, as well as senior cashier of the Swiss Central Bank, the major consultant of the NBA, will arrive in Baku. "The talks will focus on further development of the global project," he noted.

According to Rustamov, the contract for printing banknotes and coins will be signed after the adoption of a design by Azerbaijani President Ilham Aliyev. "Now we are in the point of designing. The same time we discuss the size of coins, which will define their weight. We need 10-11 million pounds to implement the plans, while 70% of them will be spent on banknotes," Rustamov underlined.

Earlier the Committee on monetary reforms in Azerbaijan had confirmed a designer and printer of banknotes of new model. The order for new banknotes will be made to Thomas De La Rue, while Potertu Collin will be involved in design. Royal Mint, a money yard, is subcontractor of Thomas De La Rue printing banknotes.

Earlier Finance Minister Avaz Alakbarov noted that the NBA had undertaken all expenses for printing new banknotes, which totals $23m.