Regulatory Alerts2026-06-18
Central Bank issued electronic money institution licenses to Cibpay LLC and Multi Solutions LLC
The Central Bank of Azerbaijan issued electronic money institution licenses to Cibpay LLC and Multi Solutions LLC on June 18, 2026. This action was taken pursuant to a Board of Directors decision dated June 10, 2026, under the Law of the Republic of Azerbaijan on Payment Services and Payment Systems. The regulatory move involved revoking the entities' previous payment institution licenses to authorize them for electronic money institution activities.
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