Regulatory Alerts2024-11-25
Regulation on Cash Operations, Storage and Transportation of Cash and Other Valuables in Credit, Payment, and Electronic Money Institutions
The Central Bank of the Republic of Azerbaijan issued this regulation to establish standardized procedures and minimum technical requirements for cash operations, storage, and transportation within credit, payment, and electronic money institutions. It mandates specific infrastructure standards for cash vaults and pre-vault areas, including reinforced construction, surveillance integration, 24-hour armed guarding, and real-time tracking via Operational Information Systems. The framework further defines employee roles, key management protocols, daily accounting documentation, and AML compliance measures to ensure secure handling and accurate recording of cash and other valuables.
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