Central Bank conducts training for payment companies and remittance providers

07-12-2023

7 December 2023, Baku: Taking into account the entry into force of the Law of the Republic of Azerbaijan "On Payment Services and Payment Systems"  in November this year and the requirements of the Law of the Republic of Azerbaijan "On Prevention of Legalization of Criminally Acquired Property and Financing of Terrorism" (AML/CTF Law) to be applied with respect to payment companies and e-money companies, on December 6, 2023, the Central Bank held a training for member organizations of the Azerbaijan Fintech Association (AZFINA) on the requirements for combating the legalization of criminally acquired property and the financing of terrorism.

During the training, the questions of AZFINA member organizations were answered and the current state of their relevant infrastructure and other related issues were discussed.

The Central Bank will continue to organize events aimed at improving the knowledge and skills of the staff of financial institutions in order to ensure the effective implementation of the requirements of the AML/CTF legislation.