BAKU, Azerbaijan, June 22. Azerbaijan prohibits Illegal disclosure of information about payment service users, their payment accounts or payment transactions, Trend reports.
This is stated in the new draft law "On payment services and payment systems", which is being discussed at today's meeting of the Committee of the Milli Majlis (Parliament) on economic policy, industry and entrepreneurship.
The law notes that the transfer by the payment service provider of information about the user of the payment service to the recipient of funds and other persons involved in the implementation of the payment service, when providing payment services, is not considered a violation of the rules of bank secrecy if this information is limited to the data necessary for the payment transaction.
When exercising the authority to manage or maintain payment services and payment service providers, as well as other persons involved in the provision of payment services, current and former members of the management bodies of these persons, current and former employees are prohibited from illegally disclosing information about users of payment services, payment accounts or payment transactions.