BAKU, Azerbaijan, October 13. The Central Bank of Azerbaijan (CBA) has temporarily restricted the activities of Greentek Group LLC, Trend reports via the CBA.
In the thick of an unannounced check-up conducted by the regulatory body at the LLC, facts were revealed that payment accounts weren't opened for users in accordance with the requirements of the legislation, and errors were made in preventing illegal activities carried out through internet resources.
Therefore, an order was issued to temporarily suspend all payment services provided within the framework of the license (except for operations to return funds of payment service users) in accordance with Articles 48.2.4 of the Law of Azerbaijan "On the Central Bank" and 63.1 of the Law of Azerbaijan "On Payment Services and Payment Systems."
Greentek Group LLC operates as a payment and financial technology service. It is a payment system that facilitates money transfers through its website and mobile app. In July 2025, the Central Bank of Azerbaijan issued a temporary ban on Greentek Group's foreign currency transfer operations until it was integrated into the required system.
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