The Central Bank of the Republic of Azerbaijan has approved corporate governance changes requiring banks, insurers, investment firms, payment organizations and electronic money institutions to establish an independent function for handling customer complaints. The requirements take effect on Sept. 1, 2026. The function may be performed by a separate unit or a designated individual, depending on the institution’s scale. Institutions must provide the resources, information access and staff development needed to investigate complaints objectively and promptly, maintain and analyze complaint records, and improve internal processes. The changes also broaden ethics rules for management and employees and strengthen oversight of conduct standards, including conflicts of interest, reputational risk, transparency, integrity and fair treatment of customers.
Central Bank of the Republic of Azerbaijan2026-08-06
Central Bank of the Republic of Azerbaijan approves independent complaints function and expanded ethics standards for financial institutions
The Central Bank of the Republic of Azerbaijan has approved rules requiring financial institutions to establish an independent customer complaints function and strengthen ethics standards. The requirements cover banks, insurers, investment firms, payment organizations and electronic money institutions and take effect on Sept. 1, 2026.