12:37 - 16.10.2026

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October 16, Fineko/abc.az. The supervision of the Central Bank of Azerbaijan will extend not only to individual financial institutions, but also to the financial groups they are part of.

This is stipulated by the amendment to the Law on the Central Bank of the Republic of Azerbaijan, discussed at the Milli Majlis meeting on October 16.

According to the draft law, it is proposed to set out Article 48-1 (Prevention of the legalization of criminally acquired property and the financing of terrorism) in a new version.

The draft law was developed taking into account recommendations 26 and 27 of the Financial Action Task Force on Money Laundering (FATF), set out in the report on the 5th round of the assessment of the Anti-Money Laundering and Terrorist Financing (ML/FT) system of Azerbaijan, prepared by the Committee of Experts of the Council of Europe on the Assessment of Measures to Combat Money Laundering and Terrorist Financing (MONEYVAL).

According to the draft law, the supervision of the Central Bank will extend not only to individual financial institutions, but also to the financial groups they belong to. Consolidated supervision covering the entire group will be carried out with respect to financial groups uniting banks, domestic and foreign insurers engaged in accumulative life insurance, reinsurers and insurance mediators, investment companies, investment funds and their managers, as well as representative offices of foreign investment funds.

The bill was put to the vote and adopted in the first reading.