11:56 - 30.10.2026

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October 30, Fineko/abc.az. Amendments to the Law on the Central Bank of Azerbaijan were adopted in the 3rd reading at a meeting of the Milli Majlis.

According to the approved draft law, the supervision of the Central Bank will extend not only to individual financial institutions, but also to the financial groups they are part of.

In particular, consolidated supervision covering the entire group will be carried out in relation to banks, local and foreign insurers operating in the field of accumulative life insurance, reinsurers, insurance intermediaries, investment companies and funds.

The document was prepared on the basis of FATF recommendations contained in the report of the Council of Europe Committee of Experts on the Assessment of Measures to Combat Money Laundering and the Financing of Terrorism (MONEYVAL) on the results of the 5th round of assessment of the Azerbaijani AML/CFT system.

The new version of Article 48-1 of the Law is aimed at further strengthening supervision of the financial sector as part of the fight against the legalization of criminally acquired property and the financing of terrorism.