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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Central Bank issued electronic money institution licenses to Cibpay LLC and Multi Solutions LLC
18 June 2026, Baku: By decision of the Board of Directors of the Central Bank of the Republic of Azerbaijan dated 10 June 2026, in accordance with the Law of the Republic of Azerbaijan "On Payment Services and Payment Systems", the payment institution licenses of "Multi Solutions" Limited Liability Company and "Cibpay" Limited Liability Company were revoked, and licenses granting them the right to conduct electronic money institution activities were issued to them.
1 248.08 KB 18.06.2026