Central Bank issued electronic money institution licenses to Cibpay LLC and Multi Solutions LLC

18-06-2026

18 June 2026, Baku: In accordance with the Law of the Republic of Azerbaijan "On Payment Services and Payment Systems," the Management Board of the Central Bank of the Republic of Azerbaijan canceled the payment institution licenses of Multi Solutions and Cibpay Limited Liability Companies on June 10, 2026. The companies were then issued licenses entitling them to carry out electronic money institution activities.