Four innovative products to be tested within the Central Bank’s Regulatory Sandbox

26-12-2025

26 December 2025, Baku: The Central Bank continues to carry out activities related to the organization and management of the Regulatory Sandbox. The Bank has completed the evaluation of 14 applications submitted for the testing of innovative products under the second admission cycle of the Regulatory Sandbox.

As a result of the evaluation, four innovative products were selected and deemed suitable for testing under the Regulatory Sandbox on a limited basis

The products to be tested within the Regulatory Sandbox are as follows:

• The Murabaha product under the framework of Islamic banking, submitted by IBA OJSC
• The Mudaraba and Murabaha products under the framework of Islamic banking, submitted by Rabitabank OJSC
• The “Acquisition of voluntary insurance products through gift vouchers” product, submitted by PASHA Insurance OJSC
• The “BITAZN cryptocurrency exchange” product, submitted by BITAZN LLC

The said products will be tested within a limited scope and under the control of the Central Bank.

The Regulatory Sandbox aims to facilitate the market introduction of innovative services and products, enhance financial inclusion in the country, and further improve the safety and accessibility of financial services for users.

For more detailed information on the Regulatory Sandbox and the products to be tested please go to the link below: https://sandbox.cbar.az/az/registry