BAKU, Azerbaijan, August 6. The Management
Board of Azerbaijan's Central Bank approved amendments to the
Corporate Governance Standards for Banks, Corporate Governance
Standards for Insurers, Corporate Governance Standards for
Investment Companies, and Regulations for the Organization and
Implementation of Activities by Payment Institutions and Electronic
Money Institutions, by its Resolution No. 30/2 dated July 7,
2026.


This is reflected in the statement published by the Central Bank
of Azerbaijan (CBA).


"The Central Bank continues to improve the
regulatory framework to promote ethical behavior standards in
financial institutions and strengthen consumer protection,
including the processing of consumer applications," the statement
of CBA says.


According to the amendments, an independent function for
handling customer complaints is to be created in financial
institutions. Depending on the scale of the financial institution's
activities, this function can be performed by a separate structural
unit or a responsible person. The purpose of the amendment is to
protect customer rights and conduct objective investigations of
complaints in accordance with legislation. It also aims to conduct
accounting and analysis of complaints and improve internal
processes based on customer requests. To effectively operate this
function, financial institutions must ensure the necessary
resources, access to information, and employee involvement in
regular development activities.


Additionally, the amendments broaden the scope of ethical
conduct rules in financial institutions and reinforce their control
mechanisms. Thus, these rules should include standards of conduct
for management and staff, as well as the prevention of reputational
risks, management of conflicts of interest, and principles of
transparency, honesty, and fair treatment of clients.







These amendments will increase the level of protection for
consumer rights and ethical principles in financial institutions.
They will also promote a customer-oriented approach and public
trust in the financial sector.


These amendments will take effect on September 1, 2026.


The approved amendments can be viewed via the following
link:


https://e-qanun.az/framework/62330