BAKU, Azerbaijan, August 21. A monitoring
effort conducted by the Central Bank of the Republic of Azerbaijan
has revealed that certain foreign investment platforms are
promoting themselves in Azerbaijan through various means and
attracting the country’s residents to use their services.
This was announced in a statement published by the press service
of the Central Bank of Azerbaijan.
Meanwhile, it is noted that the services of these platforms are
offered and promoted through websites, social media, educational
programs, seminars, and other marketing tools.
The Central Bank states that holding a license issued by
regulatory authorities in foreign countries does not grant a
platform the right to provide investment services or promote them
within the territory of the Republic of Azerbaijan.
“In accordance with the legislation of the Republic of
Azerbaijan, investment services may be provided within the country
only on the basis of a relevant license issued by the Central Bank.
Before using any investment services, it is important to verify
that the service provider holds the appropriate license to operate
in the Republic of Azerbaijan.”
To protect investors’ rights in accordance with the law, the
Central Bank recommends that citizens entrust their investments
only to entities that hold an investment license issued by the
Central Bank. A list of investment companies licensed by the
Central Bank is available on the Central Bank’s official website
(https://www.cbar.az/page-200/investment-companies).
