Licenses of two non-bank credit organizations revoked

The Board of the Central Bank of Azerbaijan has decided to revoke the licenses of two non-bank credit organizations.

As reported by the Central Bank, the decision was made on September 29, 2026, in accordance with Article 25 of the Law of the Republic of Azerbaijan "On Non-Bank Credit Organizations."

In particular, based on an application received from the limited liability company Non-Bank Credit Organization "T-Kredit," license No. BKT-51, issued to the organization on July 28, 2026, was revoked.

In addition, the Central Bank revoked license No. BKT-24, issued on June 5, 2014, to the limited liability company Non-Bank Credit Organization "Fintrend." The basis for this decision was the submission of distorted reporting to the Central Bank in violation of established prudential requirements.

Under the legislation, after a decision to revoke a license enters into force, a non-bank credit organization must cease its activities and undergo liquidation procedures in the manner prescribed by the Civil Code of the Republic of Azerbaijan.