The Central Bank of the Republic of Azerbaijan revoked T-Kredit’s license at the lender’s request and Fintrend’s license for breaching prudential requirements and submitting distorted reports, requiring both nonbank credit institutions to cease operations when the decisions take effect and undergo liquidation under the Civil Code.
Central Bank of the Republic of Azerbaijan revokes T-Kredit and Fintrend licenses
The Central Bank of the Republic of Azerbaijan revoked T-Kredit’s license at its request and Fintrend’s license for prudential and reporting breaches, requiring both nonbank credit institutions to cease operations and enter liquidation.