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Financial Market Supervisory Authority Of The Republic Of Azerbaijan

Payment Systems

Financial Market Supervisory Authority of the Republic of Azerbaijan (FIMSA) was established with the goal of improving licensing, regulation and supervision of payment systems, as well as providing the transparency and flexibility of payment systems in Azerbaijan. Payment systems in Azerbaijan is regulated by “Civil Code”, “Law of Azerbaijan Republic on banks”, “Rules on issuance of permissions and supervision of processing systems”, “Rules on security of information systems of banks” “Rules on issuance and use of payment cards”, and “Charter of FIMSA”.