BAKU, Azerbaijan, March 3. Under the Republic
of Azerbaijan's Law "On Payment Services and Payment Systems," the
country's Central Bank (CBA) is currently reviewing applications
from organizations seeking a license to offer payment services,
Trend reports via
CBA.
According to the regulatory body, the CBA has issued an
indefinite license to Baku Pay LLC, authorizing it to operate as an
electronic money institution. This decision was made by the Board
of the Central Bank on January 15, 2025.
"The evaluation of organizations that applied for a license to
provide payment services is currently ongoing.
Information about the licenses granted for payment services is
published on the Central Bank’s official website," the information
notes.
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