Azerbaijan's Central Bank Issues Binding Order To Two Electronic Money Institutions

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 30.​ The Central Bank of Azerbaijan (CBA) has thrown down the gauntlet with a binding directive to two electronic money institutions, Greentek Group and A-Solutions LLC, Trend reports, citing the CBA.

"As part of its ongoing supervisory activities, the CBA identified violations by A-Solutions Electronic Money Institution regarding foreign currency transfers. According to the regulator, the company carried out transactions without integration into the Unified Information System on Currency Transactions (UISCT) as required by law, as of June 1, 2025.

In light of this directive, the entity was mandated to promptly suspend all foreign exchange remittance activities absent the requisite integration with the UISCT framework,” the statement reads.

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