DECREE ISSUED BY THE SUPREME COUNCIL OF THE ABKHAZ ASSR on enactment of the law of the Abkhaz ASSR “On the Central Bank of the Abkhaz ASSR” and “The Law of the Abkhaz ASSR on the Banks and Banking Activity in the Abkhaz ASSR”

DECREE ISSUED BY THE SUPREME COUNCIL OF THE ABKHAZ ASSR on enactment of the law of the Abkhaz ASSR “On the Central Bank of the Abkhaz ASSR” and “The Law of the Abkhaz ASSR on the Banks and Banking Activity in the Abkhaz ASSR”

The Supreme Council of the Abkhaz ASSR decrees:

1. To give an effect to the law of the Abkhaz ASSR “On the Central Bank of the Abkhaz ASSR” and “The Law of the Abkhaz ASSR on the Banks and Banking Activity in the Abkhaz ASSR” since the very moment of their publication.

2. To rename the Abkhaz Department of the National Bank of the USSR as the Central Bank of Abkhazia. The Central Bank of Abkhazia shall elaborate the Regulations and submit it to the Supreme Council of the Abkhaz ASSR before 1 April 1991 to be approved.

6. Before the adoption of the supplementary legal acts to the law of the Abkhaz ASSR “On the Central Bank of the Abkhaz ASSR” and “The Law of the Abkhaz ASSR on the Banks and Banking Activity in the Abkhaz ASSR” and bringing the legislation of the Abkhaz ASSR in compliance with aforementioned laws, the existing legal acts of the USSR and the Georgian SSR, related to the Banks and Banking system can be applied if they do not contradict aforementioned laws of the Abkhaz ASSR.

(…)

Chairman of the Supreme Council of the Abkhaz ASSR V. Ardzinba

28 February 1991

(Newspaper “Abkhazia”, # #9-10, 12 March 1991)