The Central Bank of the Republic of Azerbaijan has begun the initial assessment of applications to participate in its special regulatory regime, after receiving 14 submissions at the end of the first phase. The applications relate to testing innovative products in virtual assets, lending, insurance and other areas of the financial markets. The next stage envisages a full review and final assessment of compliance with the regime’s requirements, followed by a final decision. Under the regime, participants will test innovative financial products in a limited setting under central bank supervision on the basis of a contract, with products that meet the criteria and complete testing successfully expected to be rolled out in the market.
Central Bank of the Republic of Azerbaijan 2025-02-18
Central Bank of the Republic of Azerbaijan starts preliminary review of 14 applications for its special regulatory regime
The Central Bank of the Republic of Azerbaijan has commenced the initial assessment of 14 applications for its special regulatory regime, focusing on innovative products in virtual assets, lending, and insurance. This regime allows participants to test financial products under central bank supervision. Successful products are expected to be introduced to the market after meeting the regime's criteria.