CBA grants 23 payment licenses, 8 pending

Azernews.Az

14 February 2025 16:13 (UTC+04:00)

Nazrin Abdul

So far, 31 companies in Azerbaijan's payment market have applied for licenses from the Central Bank of Azerbaijan (CBA), with 8 still awaiting approval.

Azernews reports that Ruslan Talibov, Chairman of the Azerbaijan Fintech Association, shared this information at the Azerbaijan Financial Forum in Baku.

He noted that the Central Bank has issued indefinite licenses to 14 companies as electronic money institutions, 8 as payment institutions, and granted "AzeriCard" LLC the rights to operate both as an electronic money institution and payment system operator.

This brings the total number of licensed organizations to 23.

These licenses were granted under the Law "On Payment Services and Payment Systems." The Central Bank also stated that assessments for other license applications are ongoing.

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