BAKU, Azerbaijan, August 21. A monitoring effort conducted by the Central Bank of the Republic of Azerbaijan has revealed that certain foreign investment platforms are promoting themselves in Azerbaijan through various means and attracting the country’s residents to use their services.
This was announced in a statement published by the press service of the Central Bank of Azerbaijan.
Meanwhile, it is noted that the services of these platforms are offered and promoted through websites, social media, educational programs, seminars, and other marketing tools.
The Central Bank states that holding a license issued by regulatory authorities in foreign countries does not grant a platform the right to provide investment services or promote them within the territory of the Republic of Azerbaijan.
“In accordance with the legislation of the Republic of Azerbaijan, investment services may be provided within the country only on the basis of a relevant license issued by the Central Bank. Before using any investment services, it is important to verify that the service provider holds the appropriate license to operate in the Republic of Azerbaijan.”
To protect investors’ rights in accordance with the law, the Central Bank recommends that citizens entrust their investments only to entities that hold an investment license issued by the Central Bank. A list of investment companies licensed by the Central Bank is available on the Central Bank’s official website (https://www.cbar.az/page-200/investment-companies).
