Fintech & payments regulation in Azerbaijan (2026)

As of October 2025, thirteen Azerbaijani commercial banks completed API integration under the Open Banking framework, with six more in the final stage. Marks the transition from rule-setting to live interoperability between account-holding banks and third-party payment service providers.

The Central Bank launched fintech.cbar.az, a unified portal housing the Regulatory Sandbox, Open Banking resources, virtual-asset guidance, and distributed KYC information. Consolidates the innovation-facing infrastructure of the regulator into a single interface for fintech applicants.

Tiko Azerbaijan MMC became the first entity to receive an EMI license from the Central Bank under the regime established by the 2023 Law on Payment Services and Payment Systems. Signals the licensing machinery is fully operational for non-bank payment firms.

The CBAR Management Board approved Requirements for network channels between payment service providers covering account-information and payment-initiation services, entering force 21 December 2024. Implements Article 62.7 of the Payment Services Law and sets binding technical API standards for Open Banking.

The six-month transition window in the Law on Payment Services and Payment Systems expired, requiring every payment institution, e-money institution, and payment system operator to hold a Central Bank license or complete mandatory registration. Transforms the previously unregulated non-bank payments market into a fully licensed sector.

The CBAR Management Board adopted a three-year strategy placing digital finance, Open Banking, CBDC research, and financial inclusion at the core of economic modernisation. Sets the overarching policy roadmap under which all subsequent digital-payments reforms, including the digital manat pilot and open-finance API ecosystem, are being executed.

The Central Bank issued detailed licensing rules for payment institutions and EMIs, setting minimum initial capital, own-funds composition, currency-exchange activity conditions, and consumer-lending limits. Provides the operational rulebook beneath the 2023 Law and makes licensing applications actionable.

The Central Bank's AniPay application was made available to all bank customers integrated into the IPS, enabling real-time transfers via mobile number, email, PIN, or QR code around the clock. Extended the IPS rail from bank-to-bank infrastructure to mass consumer use.

Following a pilot from 12 August 2020, the IPS went live commercially, enabling 24/7/365 instant AZN transfers between individuals, businesses, and government agencies within 5-10 seconds. Established Azerbaijan's foundational real-time retail payment rail, a core deliverable of the 2018 Presidential State Program.

President Aliyev approved a three-year state program to dramatically expand cashless payments among citizens, businesses, and public authorities and to mandate development of an instant payment system. This decree is the foundational policy instrument behind every subsequent digital-payments infrastructure initiative, IPS, AniPay, AZQR, and catalysed the eventual 2023 licensing law.