17:25 - 27.08.2024

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August 27, Fineko/abc.az. The Central Bank of Azerbaijan imposed fines on officials from five non-bank credit organizations (NBCOs) for violating regulations.

According to ABC.AZ, the penalized organizations include Caspian Finance BOKT LLC, FINCA Azerbaijan, FinEx Kredit, Kepez LLC, and TCF BOKT OJSC.

These organizations were found to be in breach of Article 22.1 of the Law on Non-Bank Credit Organizations and Clause 3.3 of the Procedure for Providing Information on Borrowers of Credit Organizations to the Centralized Credit Registry.

Under Article 440.1 of the Code of Administrative Offenses, one official each from Caspian Finance BOKT LLC, FINCA Azerbaijan LLC, and FinEx Kredit LLC were fined 1,500 manats, while one official each from Kepez LLC and TCF OJSC were fined 2,000 manats.