As part of ongoing supervisory measures conducted by the Central Bank of Azerbaijan, administrative measures have been taken against two non-bank credit organizations.
According to the press service of the Central Bank, in connection with violations of the requirements of legislation on combating the legalization of criminally obtained property and the financing of terrorism, Embafinans CJSC NBC and its official, as well as an official of Caspian Invest LLC NBC, have been brought to administrative responsibility.
By a decision of the Yasamal District Court of Baku, based on Articles 598.1.1, 598.1.2, and 598.1.6 of the Code of Administrative Offenses, Embafinans CJSC was fined 20,000 manats, and its official was fined 4,000 manats.
By a decision of the Narimanov District Court of Baku, based on Article 598.1.2 of the Code of Administrative Offenses, an official of Caspian Invest LLC NBC was fined 2,000 manats.
86% of shares in Embafinans CJSC belong to Elshad Abbasov, and 14% to Tamara Polyakova. The founders of Caspian Invest NBC are Nurlan Sharifov and Ibrahim Salmanov, each holding a 50% stake in the organization.
