BAKU, Azerbaijan, January 23. The Central Bank of Azerbaijan (CBA) has given binding instructions to three credit unions, Trend reports via CBA.
According to the information, the credit unions in question are Stimul LLC, Total Finans, and Finans.
Since the reports for the IV quarter of 2024 were not submitted by the mentioned credit unions, the requirement of paragraph 10.3 of the “Rules of prudential regulation of credit unions” was not fulfilled.
Therefore, based on the requirements of Article 4.4.4 of the “Procedure for Issuance of Banking License to Credit Unions”, the Central Bank sent them mandatory instructions to submit reports without delays and within the established deadlines in the following periods.