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Azerbaijan upgrades definition of banking activity directions

Economy Materials 17 October 2023 15:07 (UTC +04:00)
Azerbaijan upgrades definition of banking activity directions
Elchin Mehdiyev
Elchin Mehdiyev
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BAKU, Azerbaijan, October 17. Types of banking activities have been re-defined in Azerbaijan, Trend reports.

This is reflected in the draft law on amendments to the Law of the Republic of Azerbaijan "On Banks".

According to the draft law, banks may engage, if not prohibited by a banking license obtained from the Central Bank, in the following activities: clearing, payment services, including settlement and cash services, organization of payment systems, making payments on securities transactions; issuance of checks and bills.

The document was put to the vote and adopted in the first reading after discussion.

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