Central Bank issues e-money institution license for Modenis LLC

11-06-2024

11 June 2024, Baku: The Central Bank assesses applications from institutions to obtain payment service licenses in accordance with the Law of the Republic of Azerbaijan ‘on Payment Services and Payment Systems’. As part of related efforts, the Management Board of the Central Bank decided to issue a perpetual e-money institution license to the Modenis LLC on 5 June 2024.

The evaluation of other institutions applied to the Central Bank for payment service licenses is ongoing. The Bank publishes the information about payment service licenses it issues on its website.