Licensing requirements for branches of foreign banks are tightened

15:38 - 19.02.2025

February 19, Fineko/abc.az. The requirements of licensing for local branches of foreign banks may be tightened in Azerbaijan.

ABC.AZ reports that the relevant amendments to the Law on Banks were discussed today by members of the Milli Majlis Committee on Legal Policy & State Building.

According to the amendments, when licensing local branches of foreign banks, information about the beneficial owners of the bank will also be required in accordance with the procedure established by the Central Bank of Azerbaijan.