(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 14. Azerbaijan's
Invest-AZ Investment Company CJSC plans to re-apply for a license
following the amendments to the Law on the investment funds in
2023, the company told trend .
The company noted that the license of InvestAZ Asset Management
LLC, which has been revoked, assumed the investment fund portfolio
management.
'An investment fund had to be established within a certain
period in line with the requirements of this activity. The license
was suspended simply because there was no active work in this
direction, and the investment fund was not being set up,' the
company said.
The CJSC stressed that the Invest-AZ Investment Company's
license was perpetual, and the company continued its customer
service activities.
On March 13, the Central Bank of Azerbaijan revoked the license
of InvestAZ Asset Management LLC, which was engaged in investment
fund management activities.
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