The Central Bank of the Republic of Azerbaijan said its board, by decision dated June 10, 2026, revoked the payment institution licenses of Multi Solutions LLC and Cibpay LLC and granted them licenses to operate as electronic money institutions under the Law on Payment Services and Payment Systems.
Central Bank of the Republic of Azerbaijan2026-06-18
Central Bank of the Republic of Azerbaijan revokes Cibpay and Multi Solutions payment institution licenses and grants e money institution licenses
The Central Bank of the Republic of Azerbaijan has replaced the payment institution licenses of Multi Solutions LLC and Cibpay LLC with licenses to operate as electronic money institutions. The change was made by a board decision dated June 10, 2026 under the Law on Payment Services and Payment Systems.