BAKU, Azerbaijan, May 25. The Central Bank of
Azerbaijan (CBA) has announced a new application period for a
special regulatory regime, Trend reports via the CBA.
The CBA's statement announced its ongoing activities within the
framework of the "Financial sector development strategy" covering
the period from 2024 through 2026, aimed at promoting innovations
in the financial sector, developing digital financial services, and
introducing new technologies. The statement noted that the special
regulatory regime applied in this direction allows for the testing
of innovative financial products within a limited framework and
under the supervision of the CBA.
According to the statement, the acceptance of applications for
the next testing phase of innovative financial solutions within the
framework of the special regulatory regime will begin on June 25,
2026, and the acceptance process will continue until August 25,
2026.
The statement added that testing of innovative financial
products meeting the criteria of the special regulatory regime will
be carried out on the basis of an agreement to be signed with the
CBA.
The implementation of pilot projects on innovative products
selected in previous acceptance periods within the framework of the
special regulatory regime is currently ongoing. The projects in
question include innovative financial solutions related to payment
services, capital markets, and virtual assets.
Persons wishing to participate in the special regulatory regime
may submit the documents and information specified in paragraph 4.2
of the "Rules for the application of the special regulatory regime"
to the CBA through the special sandbox.cbar.az website after the
start of the acceptance of applications.
