On June 14 of this year, a significant decision was enacted to enhance customer compliance and verification measures, alongside updating risk assessment protocols and internal control program requirements for obliged entities. Approved under Decision No. 3-21-28/3-6-4/2023 and Resolution No. 3-21-28/3-6-6/2023, the amendments aim to bolster the regulatory framework governing risk attribution and internal controls.

The decision, effective immediately under Resolution No. 3-21-28/3-6-8/2024, reflects ongoing efforts to adapt to evolving financial landscapes and strengthen measures against money laundering and terrorism financing.

To access the full text of the decision, please visit: https://e-qanun.az/framework/57221