16:17 - 25.06.2026

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June 25, Fineko/abc.az. The Board of the Central Bank of Azerbaijan (CBA) has amended the Rules for Managing Credit Risks in Banks approved by the decision dated September 21, 2023, as well as the Rules for Managing Credit Risks in NBCOs approved by the decision dated November 15, 2024.

ABC.AZ informs that the relevant decision was signed by CBA governor Taleh Kyzymov.

According to the decision, the amendments will come into force on October 1, 2026.

The Department of Legal Support for Financial Markets has been instructed to submit the document to the Ministry of Justice within 3 days for inclusion in the State Register of Legal Acts.

In compliance with the amendments, banks and non-banking financial companies must provide customers with the option to set restrictions on the remote conclusion of consumer loan agreements or the remote modification of agreements related to the increase of the credit limit through all sales channels upon written request. This restriction can be lifted on the basis of a written request from the client in person at the bank, using an enhanced electronic signature or enhanced client authentication.

When giving a consumer loan, the bank and NBCO are required to check through their information system and the credit bureau system whether the client has set a restriction on the remote conclusion of a contract or the change of the credit limit. If such a restriction is in place, the conclusion of a consumer loan contract or its remote change is not allowed.

When receiving a request from a client who has set such a restriction, the bank and NBCO are required to immediately notify the client of this through a mobile app or SMS.