The Central Bank of Azerbaijan (CBA) has issued a mandatory instruction to the "Ləman", "Stimul", and "İnci Kredo" credit unions.
The editorial office reports this, citing the CBA.
According to the information, since the aforementioned credit unions did not submit their financial statements for 2024, audited by an external auditor, the requirement of Article 17.3 of the Law of the Republic of Azerbaijan "On Credit Unions" was not met. Guided by the requirements of sub-paragraph 4.4.4 of the "Rules for Licensing Credit Unions to Conduct Banking Operations", "İnci Kredo" Credit Union Limited Liability Company, "Ləman" Limited Liability Credit Union, and "Stimul" Credit Union Limited Liability Company were required to have their 2024 financial statements audited by an external auditor and to provide official information to the Central Bank of the Republic of Azerbaijan with supporting documents attached.