Law on Non-Bank Credit Institutions

Azerbaijan

(enacted in 2009)

Law on Non-Bank Credit Institutions is intended to improve access to financial services and strengthen the legal framework of non-bank credit institutions (NBCIs) in Azerbaijan. The law provides for the establishment of two types of NBCIs, those with the right to accept collateral deposits and those without such right, and sets out different restrictions on organizational form for commercial versus non-commercial NBCIs.

The law is organized into the following chapters:

  • Chapter 1 General provisions;
  • Chapter 2 Establishment and management of NBCI;
  • Chapter 3 Provision of licenses and permission;
  • Chapter 4 Requirements on activities of NBCIs;
  • Chapter 5 Supervision over activities of NBCI; and
  • Chapter 6 Transition provisions.