BAKU, Azerbaijan, September 19. The Central Bank of Azerbaijan (CBA) has issued licenses to new financial organizations, TurkicWorld reports the CBA statement.
According to the statement, the licenses were issued to K Group LLC to operate as an electronic money organization, M.A.X Systems Plus LLC and Cibpay as payment organizations, and Azericard LLC as an electronic money organization and operator payment system.
"Evaluation of applications of other organizations that submitted requests for a license to provide payment services is ongoing," the statement reminded.
To note, earlier the CBA issued perpetual licenses to A-Solutions, United Payment, Modenis, PashaPay, Mobile Payment Solutions, Paysis, Mpay, and PulPal to operate as e-money organizations. The companies “Token Azerbaycan," “Global Innovations,” and “Drakaris” were granted licenses to operate as payment organizations.
For more information on the "On Payment Services and Payment Systems" law, refer to the interview with a CBA representative.
