Regulatory Alerts2026-06-18
Central Bank Revokes Payment Institution Licenses of Cibpay and Multi Solutions LLCs and Issues Electronic Money Institution Licenses
The Central Bank of Azerbaijan revoked the payment institution licenses of Cibpay LLC and Multi Solutions LLC and issued them electronic money institution licenses. This regulatory change was enacted 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 licenses were officially revoked and new ones granted on June 18, 2026, in Baku.
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