16:08 - 8.08.2025

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August 8, Fineko/abc.az. The Central Bank of Azerbaijan (CBA) has issued binding instructions to credit unions Hacıoğlu LLC, Stimul and Inci Kredo. 

ABC.AZ informs with reference to the CBA that since credit unions Hacıoğlu, Stimul and Inci Kredo did not submit reports for the 2nd quarter of 2025, the requirement of Paragraph 10.3 of the Rules of Prudential Regulation of Credit Unions was not fulfilled, in this regard, guided by the requirements of subparagraph 4.4.4 of the Rules by issuing a license to a credit union for conducting a banking operation, the CBA has instructed credit unions to submit these reports immediately and in a timely manner in subsequent periods.