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Central Bank Revokes Licenses Of 3 Electronic Money Institutions
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, May 14. Three electronic
money institutions in Azerbaijan have had their licenses revoked,
Trend reports citing the
Central Bank of Azerbaijan (CBA).
The affected companies are“Azvwallet” LLC,“Greentek Group” LLC and“Guavapay” LLC.
“In accordance with Protocol No. 22 of the Board of Directors of the Central Bank of the Republic of Azerbaijan dated May 13, 2026, and pursuant to Article 54.1.1 of the Law of the Republic of Azerbaijan 'On Payment Services and Payment Systems,' the licenses authorizing electronic money institution activities were canceled,” the CBA said in a statement.
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