17:31 - 24.12.2025

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December 24, Fineko/abc.az. The Central Bank of Azerbaijan is conducting a study of complaint management systems in payment organizations in order to protect the rights of consumers of financial services in the subjects of supervision.

ABC.AZ reports that the CBA conducts regular inspections of control subjects in various areas. As part of those audits, research is conducted to protect the rights of customers based on certain categories (priorities). One of these categories is the assessment of the availability and effectiveness of customer complaint management systems among the subjects of control. In order to eliminate the deficiencies identified during the inspections, control subjects are given appropriate instructions, and the results of their implementation are kept under control.

Subjects of control are provided according to the calendars established by the Central Bank, starting from March of this year, in connection with cases of fraud with payment cards. No penalties or sanctions were applied for the reporting submitted during this period.

Payment organizations must ensure full compliance with the CBA's "Information Security Requirements for Entities whose Activities are controlled in Financial Markets" (with the exception of Paragraphs 12-4.16 and 6.5). These requirements imply that entities must ensure safety management, technical control mechanisms, and operational continuity. There have been no successful cyber incidents in this sector over the past year.