Regulatory Alerts2025-06-25
Approval of Currency Exchange License Application, Capital Requirements and Operational Regulation
The Central Bank of the Republic of Azerbaijan issued Decision No. 59 to standardize currency exchange licensing, establishing a unified application form and tiered minimum capital requirements ranging from 300,000 to 600,000 manats based on operational regions. The regulation mandates strict logistic, security, and technological standards for exchange offices, including spatial requirements, anti-vandal infrastructure, electronic monitoring, and daily transaction limits capped at 20,000 manats per individual. License holders must maintain enhanced AML/CFT compliance, submit monthly operational reports and annual financial statements to the Central Bank, and undergo periodic inspections that may result in license revocation or cancellation.