On December 11, 2025, a training session on “Reliance on Third Parties in Customer Due Diligence by Financial Institutions” was held. Organized by the Central Bank of the Republic of Azerbaijan, the session featured experts from the Financial Monitoring Service of the Republic of Azerbaijan, including Nurlan Babayev, Director of the Department for Supervision and Cooperation with Law Enforcement Agencies, as well as Azar Hasanli and Subhan Qarayev as trainers.

The training provided a comprehensive overview of the process for relying on third parties in compliance with banking secrecy regulations, relevant requirements of international standards and national legislation, and key provisions of documentation templates used in this area. Practical examples were also presented, demonstrating the application of this mechanism in products and services delivered through new technologies.

Over 200 employees from financial institutions participated in the event. The session concluded with an interactive discussion, during which participants’ questions regarding challenges in implementing the reliance on third parties mechanism were addressed.