BAKU, Azerbaijan, December 5. The powers of the Central Bank of Azerbaijan (CBA) are being expanded, Trend reports.
This was reflected in a proposed modification to the law "On the Central Bank," which was debated today in Azerbaijan's Milli Majlis (Parliament).
According to the draft, the CBA will license, regulate, and control the activities of payment organizations, electronic money organizations, payment system operators, and other financial market participants in order to safeguard the stability and sustainability of financial markets.
The draft was placed to a vote and passed in the third reading.
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