BAKU, Azerbaijan, August 9. A new law "On payment services and payment systems" has been approved in Azerbaijan, Trend reports.
President of the Republic of Azerbaijan Ilham Aliyev has signed the relevant law.
According to the law, the legal foundations of the activities of payment systems, payment services, payment organizations, electronic money organizations and payment system operators, as well as the legal, organizational and economic foundations of regulation and control in this area are established in accordance with paragraphs 10, 11, 12 and 15 of Part I of Article 94 of the Constitution of the Republic of Azerbaijan.
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