BAKU, Azerbaijan, March 14. Azerbaijan's Invest-AZ Investment Company CJSC plans to re-apply for a license following the amendments to the Law on the investment funds in 2023, the company told Trend.
The company noted that the license of InvestAZ Asset Management LLC, which has been revoked, assumed the investment fund portfolio management.
"An investment fund had to be established within a certain period in line with the requirements of this activity. The license was suspended simply because there was no active work in this direction, and the investment fund was not being set up," the company said.
The CJSC stressed that the Invest-AZ Investment Company's license was perpetual, and the company continued its customer service activities.
On March 13, the Central Bank of Azerbaijan revoked the license of InvestAZ Asset Management LLC, which was engaged in investment fund management activities.