Central Bank Of Azerbaijan Greenlights E-Money Organization With New License

2025-03-07 05:08:43

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 7. The Central Bank of Azerbaijan (CBA) is reviewing applications from organizations seeking a license to offer payment services under Azerbaijan's Law "On Payment Services and Payment Systems", a source in the CBA told Trend .

According to the source, the CBA has issued an indefinite license to Algoritma LLC, authorizing it to operate as an electronic money institution. This decision was made by the Board of the Central Bank on December 25, 2024.

"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 source noted.

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