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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The Central Bank revoked the payment institution licenses of Cibpay LLC and Multi Solutions LLC and issued them electronic money institution licenses
18 June 2026, Baku: By the 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 carry out electronic money institution activities were issued to them.
1 295.71 KB 18.06.2026