Regulatory Alerts2026-06-04
Regulation on Remote Opening of Accounts
The Central Bank of the Republic of Azerbaijan issued Resolution No. 44/5 to establish a standardized procedure for remotely opening accounts at credit institutions, investment firms, postal operators, and payment entities. The regulation mandates that supervised entities utilize information technology solutions for application submission and customer identification through photographic capture, video recording, or real-time video calls with software-based liveness detection. It further requires authentication via advanced electronic signatures, permits exemptions for previously verified or publicly integrated data, and obligates entities to implement risk-based internal policies while ensuring data encryption and retention.
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