The Central Bank of the Republic of Azerbaijan announced that, under a June 10, 2026 board decision made pursuant to the Law on Payment Services and Payment Systems, it revoked the payment institution licenses of Cibpay LLC and Multi Solutions LLC and issued each company a license authorizing electronic money institution activities.
Central Bank of the Republic of Azerbaijan2026-06-18
Central Bank of the Republic of Azerbaijan issues electronic money institution licenses to Cibpay and Multi Solutions
The Central Bank of the Republic of Azerbaijan has issued electronic money institution licenses to Cibpay LLC and Multi Solutions LLC. Under a June 10, 2026 board decision, their payment institution licenses were revoked and replaced with licenses permitting electronic money institution activities.