The Central Bank of the Republic of Azerbaijan has issued Algoritma LLC an indefinite licence authorising it to operate as an electronic money institution. The licence was granted under Azerbaijan’s Law on Payment Services and Payment Systems, following the Central Bank’s assessment of organisations applying to be licensed to provide payment services, and was approved by a Central Bank Board decision dated 25 December 2024. Assessments of other pending licence applications are continuing, and the Central Bank publishes information on issued payment services licences on its website.
Central Bank of the Republic of Azerbaijan 2025-03-07
Central Bank of the Republic of Azerbaijan grants Algoritma LLC an indefinite electronic money institution licence
The Central Bank of the Republic of Azerbaijan has granted Algoritma LLC an indefinite licence to operate as an electronic money institution under the Law on Payment Services and Payment Systems. The decision was approved by the Central Bank Board on 25 December 2024. Assessments of other licence applications are ongoing.