The number of departments has increased in the Central Bank of Azerbaijan (CBA), Trend reports on Jan. 28 referring to the CBA’s website.
The CBA continued to implement structural changes. Another stage was an increase in the number of departments from 19 to 23.
The department on consumers’ affairs, department on the capital market and other financial intermediaries, department on financial stability, prudential policy and methodology are new departments.
The Azerbaijani Financial Market Supervisory Authority (FIMSA) was abolished on November 28, 2019 in accordance with the president’s order improving management of the regulatory system and control of the financial services market.
In accordance with the order, FIMSA’s powers stipulated upon the Azerbaijani laws, including its rights and obligations in the field of licensing, regulation and supervision in the financial services market, protection of the rights of investors and consumers of financial services, as well as its property, were transferred to the CBA.
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