Central Bank issues e-money institution license for Algoritma LLC

07-03-2025

7 March 2025, Baku: The Central Bank has been assessing applications for payment service licenses in accordance with the Law of the Republic of Azerbaijan ‘on Payment services and payment systems.’ As part of the ongoing process, the Management Board of the Central Bank decided to issue a perpetual electronic money institution license for Algoritma LLC on 25 December 2024.

The evaluation of other applications for payment service licenses keeps going. The Central Bank publishes updated information on payment service licenses on its official website.