Azerbaijan’s CBA issues e-money institution license for Tiko Azerbaijan LLC

The Central Bank of Azerbaijan (CBA) has been assessing applications for payment service licenses in accordance with the Law of the Republic of Azerbaijan ‘On Payment Services and Payment Systems,’ Report informs, citing the CBA.

As part of the ongoing process, the Management Board of the Central Bank decided to issue a perpetual electronic money institution license to Tiko Azerbaijan LLC on December 10, 2024.

The evaluation of other applications for payment service licenses keeps going.