BAKU, Azerbaijan, April 23. The Central Bank of
Azerbaijan (CBA) has revoked the license of Optimal Finance LLC
non-bank credit organization (NBCO), Trend reports via the CBA.
In accordance with the amendments made to the law of Azerbaijan
“On NBCOs”, as well as within the framework of the strategic goals
set in the “Strategy for the development of the financial sector in
2024-2026” approved by the CBA, the “Rules for the prudential
regulation of the activities of NBCOs” were approved by the
relevant decisions of the CBA Management Board.
According to the rules, the minimum capital requirement for
existing and new non-bank credit organizations established in the
form of a commercial legal entity was set at 1 million manat
($590,000).
“Due to non-compliance with the minimum capital requirement, the
CBA has issued mandatory instructions to Optimal Finance LLC.
However, as a result of the steps taken by the said organization
during the past period, compliance with the minimum capital
requirement hasn’t been ensured. Taking into account the above, in
accordance with Article 25.1.4 of the law ‘On NBCOs’, the license
of Optimal Finance LLC dated 29.12.2020, No. BKT-37 was revoked by
the decision of the CBA Management Board dated April 17, 2026.
In accordance with Article 25.4 of the law ‘On NBCOs’, the NBCO
ceases its activities from the date of entry into force of the
decision on revocation of its license and is liquidated in
accordance with the procedure established by the Civil Code of
Azerbaijan,” the CBA statement emphasized.
The CBA will continue to take the necessary steps required by
legislation, constantly monitoring the activities of non-bank
credit institutions based on regulatory requirements.
