Proposed Amendment To Law On Azerbaijan's Central Bank Adopted

2023-10-17 07:12:12

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 17. The powers of the Central Bank of Azerbaijan (CBA) are expanding, Trend reports.

This was reflected in the proposed amendment to the law "On the Central Bank of the Republic of Azerbaijan", which was discussed at a meeting of the Milli Majlis (Parliament) today.

According to the draft, the CBA will license, regulate and control the activities of payment organizations, electronic money organizations, payment system operators, as well as other financial market participants in order to ensure the stability and sustainability of the functioning of financial markets.

The draft was put to the vote and adopted in the first reading.

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