Azerbaijan
After gaining independence in 1991 with the end of the Soviet Union, Azerbaijan made the long and difficult change from a command economy to a market economy. The government has largely completed privatization of agricultural lands and small, medium and large state-owned companies. Azerbaijan is continuing making economic reforms, and old economic ties and structures have been slowly replaced. With independence, Azerbaijan became a member of the International Monetary Fund, the World Bank, the European Bank for Reconstruction and Development, the Islamic Development Bank and the Asian Development Bank. Azerbaijan's currency is the Azerbaijani manat (AZN) which is divided into 100 qəpik. It became the national currency in 1992 and replaced the old Soviet ruble. The Central Bank of Azerbaijan was created in 1992. The Central Bank serves as Azerbaijan's central bank, and is responsible for printing and distributing the national currency, the Azerbaijani manat, and to control all commercial banks.