The Central Bank of Azerbaijan (CBA) has taken administrative measures against two companies operating in the payment services market. This was reflected in the statement of the CBA. According to the information, an on-site inspection conducted by the CBA at Baku Pay LLC from March 31 to April 15, 2026, revealed violations of legal requirements related to ensuring the security of funds.
In this regard, an official of the company was fined 2,000 manats in accordance with Article 439-2.2 of Azerbaijan’s Code of Administrative Offenses. Another case involved Global Innovations LLC. During an on-site inspection carried out by the CBA from February 24 to March 17, 2026, the company was found to have violated several requirements of legislation on combating the legalization of property obtained through crime and the financing of terrorism.
In connection with the identified violations, Global Innovations LLC was fined 50,000 manat ($29,411) as a legal entity under Articles 598.1.1, 598.1.2, 598.1.5, and 598.4 of Azerbaijan’s Code of Administrative Offenses. According to the CBA, administrative measures against both companies were applied following violations identified during on-site inspections. Source: https://www.trend.az/business/4220307.html © 2026 Trend News Agency.
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