The Central Bank organized another mobile reception in Siyazan district on May 13 in order to protect citizens' rights in the field of financial services and improve the level of service.

During the reception, the Central Bank representatives reviewed the citizens' applications and provided them with relevant explanations on the steps to be taken in accordance with the legislation.

At the reception, citizens mainly submitted applications regarding loan requests, requests for concessions on loan obligations, ATM installation, incorrect placement of information on credit history, etc. Some applications were resolved on the spot, while issues requiring further investigation were documented and addressed accordingly.

Citizens can address additional questions, suggestions and applications regarding mobile receptions to the Central Bank through the www.contact.e-cbar.az electronic application system or obtain information by contacting the "966" Call Center.

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The Central Bank was represented at the next meeting organised by the DOST Agency as part of the state's monitoring of the rights of persons with disabilities.

During the meeting, participants exchanged views on the work carried out to protect the rights of persons with disabilities and ensure their access to financial services. They were also informed about the monitoring objectives planned for implementation in 2026, upcoming tasks and other topics.

At the meeting, Murad Mammadov, Director of the Consumer Affairs Department of the Central Bank, provided information on initiatives that the Central Bank has implemented jointly with financial institutions within the framework of discussions on a number of current issues.

As the regulatory body of the country's financial sector, the Central Bank is focused on implementing appropriate measures to prevent discrimination in the provision of financial services to persons with disabilities. In order to improve the services provided in this direction and prevent discrimination, the Central Bank regularly holds meetings and outreach initiatives with sector representatives.

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On April 20, 2026, the Central Bank of the Republic of Azerbaijan organized an itinerant reception in Shaki District to investigate and promptly resolve citizen appeals on the spot.

During the event, citizens primarily submitted applications related to loan requests, concessions on credit obligations, phishing, ATM installation etc. Some applications were resolved on the spot, while those requiring further investigation were documented and addressed accordingly.

Citizens were also given a detailed explanation of their rights and obligations, as well as the requirements of the current legislation.

The Central Bank will continue to hold such receptions regularly to increase citizen satisfaction and promptly and transparently investigate applications.

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In accordance with the Law “On Securities Market”, the annual report of a joint-stock company is prepared based on the results of each completed calendar year and approved by the general meeting of its shareholders (except for cases stipulated by the legislation). The reports are submitted to the Central Bank of the Republic of Azerbaijan no later than ten business days from that date. Unless the Central Bank instructs otherwise, the joint-stock company must disclose its annual report on its website (if applicable) and in the media within thirty calendar days of submission.

According to the requirements of the legislation, the annual report of issuers must include a management report, financial statements, and an external auditor's opinion on their verification (except for micro and small businesses).

If joint-stock companies cease entrepreneurial activity for the current year, they are recommended to inform the Central Bank of this decision. They should attach the joint-stock company's general meeting decision and the certificate submitted to the State Tax Service in accordance with Article 16.3 of the Tax Code.

The Central Bank informs issuers that it sends warning letters to joint-stock companies that do not submit their annual reports within the prescribed timeframe. If these reports are not submitted and disclosed to the Central Bank, the issuers will be held administratively liable for this inaction (violation of the law), in accordance with the procedure established by the Code of Administrative Offenses. Therefore, joint-stock companies must comply with the legislation's requirements.

If you have any additional questions, you can contact the Central Bank's 966 "Call Center".

As part of the Central Bank's regular measures to protect citizens' rights in financial services and improve service quality, a citizens' reception was held in Shamkir district on March 13, 2026.

Citizens voiced concerns about credit concessions and obtaining new loans, as well as incorrect calculations of credit debts. They also made other inquiries and suggestions related to financial institutions.

During the reception, explanations were provided regarding citizens' applications. Applications concerning issues requiring further investigation were recorded. Information necessary for the investigation was obtained from citizens who addressed their applications orally during the reception.

To improve citizens' access to financial services and resolve applications promptly, the Central Bank will continue to conduct mobile receptions. Citizens with additional questions, suggestions, or applications regarding itinerant receptions can contact the Central Bank via the electronic application system at www.contact.e-cbar.az or by calling the 966 Call Center.

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To improve the quality and accessibility of services provided to citizens, the Central Bank plans to organize citizen reception at ASAN service centers. This approach will increase accessibility for citizens and reduce time lost during the reception process.

Starting February 17, the Central Bank will begin accepting citizens at the following ASAN service centers in Baku:

• ASAN-2 (address: 23 November 8 Avenue, Baku)
• ASAN-5 (address: 115 Heydar Aliyev Avenue, Baku)

As of the aforementioned date, the Central Bank's administrative building at 27 Bulbul Avenue in Baku will be closed to the public.

In addition to Baku, citizens are being received in the regions as well. Thus, citizen reception will continue at the following territorial offices of the Central Bank:

- Yevlakh city: 82 H. Aliyev Avenue

- Bilasuvar city: 2B H. Aliyev Street

- Nakhchivan city: 32 J. Mammadguluzade Street

The Central Bank also organizes mobile receptions throughout the year in various regions and cities of the republic.

The Central Bank intends to expand its reception of citizens, and relevant work is being carried out to this end.

If you have any questions, please contact the Central Bank's "966" Call Center.

As part of the Central Bank's regular measures to protect citizens' rights in financial services and improve service quality, a citizens' reception was held in Barda district on February 4, 2026. Citizens' applications mainly concerned obtaining loans, applying concessions to obligations under loan agreements and refusing to pay insurance premiums.

During the reception, Central Bank representatives considered citizens' applications individually and informed them of the steps they could take in accordance with the legislation. Please note that a citizen reception room operates in the territorial offices of the Central Bank, which are located at 82 H. Aliyev Avenue in Yevlakh, 2B H. Aliyev Street in Bilasuvar, and 32 J. Mammadguluzade Street in Nakhchivan. Citizens living in the region can also apply to these territorial offices for a reception.

Citizens can contact the "966" Call Center for information about participating in receptions held by the Central Bank, including mobile receptions.

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As part of the Central Bank's regular measures to protect citizens' rights in financial services and improve service quality, a citizens' reception was held in Kurdamir district on January 14, 2026.

Citizens' applications mainly concerned the conditions for taking out a loan or guarantee, applying discounts to loan obligations, withholding without acceptance, and refusing to pay insurance indemnities.

During the reception, Central Bank representatives reviewed citizens' applications individually and provided information on steps that can be taken in accordance with legislation.

To note, citizens may direct additional questions, suggestions, or applications regarding itinerant receptions to the Central Bank via the www.contact.e-cbar.az electronic application system or contact the “966” Call Center for more information.

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Representatives of the Azerbaijan Society of the Visually Impaired Public Union met with Rashad Mammadov, Executive Director of the Central Bank.

During the meeting, they discussed issues related to the use of financial services by persons with disabilities and provided information on the measures taken to ensure their accessibility to financial services.

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During the meetings held within the framework of the visit, the issues of consumer rights protection in the insurance sector, the services provided to consumers by the organization in this direction, as well as financial inclusion for people with disabilities were discussed. Additionally, the parties exchanged views on consumer appeals, the process of tracking and monitoring them, and the mechanism for the alternative resolution of appeals.

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As part of the ongoing efforts to protect citizens’ rights in the field of financial services and enhance the quality of services provided to them, the Central Bank held a mobile citizen reception in the Khizi district on 3 December 2025.

Citizens’ appeals primarily related to requests for loans, the application of concessions to obligations under credit agreements, as well as proposals and inquiries regarding the restoration of a previously suspended branch.

During the reception, representatives of the Central Bank reviewed each appeal individually and explained the steps that could be taken in accordance with current legislation

Citizens may submit additional questions, proposals, or appeals related to mobile receptions through the electronic application system at www.contact.e-cbar.az or obtain information by contacting the 966 Call Center.

Murad Mammadov, Director of the Central Bank’s Consumer Relations Department, took part in a meeting titled ‘Issuance of Loans and Life Insurance to Persons with Disabilities.’

The event, organized by the DOST Agency, focused on protecting the rights of persons with disabilities and improving their access to financial services. During the discussion, participants reviewed the measures taken to support these efforts.

Murad Mammadov also shared information about initiatives carried out in cooperation with financial institutions under the guidance of the Central Bank.

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As part of the Central Bank of the Republic of Azerbaijan's ongoing efforts to protect citizens' rights in financial services and improve service quality, an itinerant reception for citizens was held in Shirvan city on November 5, 2025.

Citizens' applications mainly concerned reducing existing interest rates on formalized loan agreements, releasing monthly loan payment amounts, and requesting relief on credit obligations in general.

Citizens who participated in the reception were provided information on their applications within the Central Bank's legislative powers.

Itinerant receptions will continue to be held to protect the rights of consumers of financial services.

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The Central Bank continues to prioritize the protection of financial service consumers and investors, as well as the enhancement of information accessibility and transparency and regularly implements targeted measures to improve overall efficiency.

As part of a new initiative to increase customer satisfaction, electronic money and payment institutions operating across the country have ensured that consumers can promptly report any issues or inquiries related to payment services to the Central Bank. These institutions have been instructed to display information about the Central Bank’s “966” Hotline prominently on the main pages of their physical payment terminals, as well as on their websites and mobile applications.

Monitoring conducted by the Central Bank has confirmed that the instruction has been duly implemented.

The Central Bank will continue its efforts to protect the rights of financial service consumers and investors and promote transparency and accessibility within the financial sector. Parallel monitoring activities will also continue.

For reference, the Central Bank’s “966” Hotline operates on business days from 09:00 to 18:00, providing uninterrupted service for incoming calls.

The Central Bank continues to implement measures aimed at strengthening the consumer finance and investors’ rights protection. As part of ongoing efforts, the Central Bank organized a mobile reception on October 8 in the Beylagan district.

During the reception, citizens received detailed explanations and guidance regarding their inquiries related to financial services. Applications that required further review were registered, and additional information was collected from citizens who submitted verbal requests.

The majority of the applications addressed issues such as requests for credit concessions, matters related to Decree No. 551, obtaining loans, and refusals of insurance payments.

The Central Bank will continue holding mobile receptions in the future to ensure the effective consumer finance protection.

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Except for cases provided by law, in accordance with Article 75 of the Law of the Republic of Azerbaijan on the Securities Market, annual reports of a joint-stock company shall be prepared based on the results of each completed calendar year and approved by the company’s general meeting of shareholders. Reports are submitted to the Central Bank of the Republic of Azerbaijan (CBA) no later than 10 days from the date of approval. Unless the CBA issues an instruction to suspend disclosure of the report, the joint-stock company should ensure the publication of its annual report on its official website (if any) and in the media within 30 days from the date of submission.

According to legislative requirements, the annual report of issuers should include a management report, financial statements, and an external auditor’s opinion (excluding micro and small business entities).

If a joint-stock company terminates its business activities for the current year, it is recommended that the company notify the CBA, accordingly, attaching the decision of the general meeting of shareholders and a certificate submitted to the State Tax Service in accordance with Article 16.3 of the Tax Code of the Republic of Azerbaijan

Issuers are reminded that joint-stock companies that fail to submit their annual reports within the period specified by law will receive warning letters from the CBA. If the said annual reports are not submitted and disclosed, issuers may be held administratively liable in accordance with the Code of Administrative Offenses of the Republic of Azerbaijan for such inaction (violation of the law). Taking the above into account, joint-stock companies are required to comply with the requirements of the legislation.

For further inquiries on the matter, please contact the CBA Call Center at 966.

To enable financial service consumers living in the regions—who may have disputes with supervised entities—to submit their inquiries without the need to visit the Central Bank’s HQ in Baku, and enhance consumer satisfaction, the next mobile citizen reception was held on August 6 in the Bilasuvar district. The reception covered residents of the Jabrayil, Kalbajar, Gubadli, Zangilan, and Lachin administrative districts. Citizens raised issues related to requests for loans, requests for loan concessions, non-removal of data from the Credit Registry, incorrect calculation of loan debt, installation of ATMs, and the opening of new bank branches.

During the reception, relevant explanations were provided regarding citizens’ inquiries, and applications requiring additional investigation were registered. Necessary information was also obtained from citizens who submitted their requests verbally for further investigation.

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The Central Bank of the Republic of Azerbaijan continues to attach great importance to the protection of the rights of financial service consumers and investors and regularly carries out related activities. One of the main objectives of the Central Bank in this regard is to ensure the protection of financial consumers’ rights through raising their financial literacy. Accordingly, the Central Bank organizes events throughout the country to receive appeals from financial service consumers who may have disputes with supervised entities, as well as to raise public awareness in the field of financial services.

A mobile citizen reception was held on 8 August 2025 in Gusar city for this purpose.

During the reception, verbal appeals from financial service consumers were heard, questions related to financial services were answered, and citizens’ proposals aimed at improving the quality of financial services were registered. Taking into account the importance of protecting shareholders’ rights and the benefits of better explaining legislative requirements to the management bodies of joint-stock companies, a meeting was held with joint-stock companies operating in Gusar, Siyazan, Shabran, and Guba. The meeting focused on improving corporate governance in joint-stock companies, preparing issuers’ annual reports in accordance with legislative requirements, convening general meetings of shareholders, and ensuring that company activities comply with the law.

Furthermore, a meeting was also held with representatives of the banking sector to discuss the protection of consumers’ rights in the use of financial services, raising public awareness, and strengthening banks’ responsibilities in this area.

As part of the event, presentations were made about the Central Bank’s electronic Financial Literacy resources aimed at enhancing financial awareness, discussions were held, and participants’ questions were answered. Additionally, a training session was conducted by a representative of the Central Bank titled Financial Literacy for Sound Financial Decisions. The training provided key information on concepts essential for making informed financial decisions, including budgeting, debt, and expense management, as well as relevant topics such as financial risks and digital financial security.

The Central Bank will continue organizing mobile receptions aimed at consumer finance protection.

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The Central Bank continues to implement measures aimed at strengthening the protection of the rights of financial service consumers and investors. Within this framework, the next mobile reception was organized on July 2 in the city of Mingachevir.

During the reception, citizens were provided with relevant explanations regarding their inquiries related to financial services, and applications requiring additional investigation were registered. Necessary information was also obtained from citizens who submitted their requests verbally for further review.

The Central Bank will continue mobile receptions to ensure the consumer finance protection.

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A meeting was held at the Nakhchivan office of the Central Bank with the participation of representatives of joint-stock companies operating in the region. The event focused on strengthening the protection of investors’ rights, improving corporate governance in joint-stock companies, preparing issuers’ annual reports in accordance with legislation, and properly convening general meetings of shareholders.

The main purpose of the meeting was to raise awareness within joint-stock companies and thereby contribute to the consumer finance protection.

#İnsanHüquqlarıAylığı #HumanRightsMonth

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As part of ongoing efforts to protect the rights of financial service consumers, the Central Bank initiated a citizen reception in the Bilasuvar district.

During the reception, citizens’ appeals were heard, their questions were answered, and proposals aimed at improving the quality of financial services were recorded 

#İnsanHüquqlarıAylığı #HumanRightsMonth

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To strengthen the protection of the rights of financial service consumers and investors, enhance the quality of services provided, and increase citizen satisfaction, the Central Bank regularly cooperates with relevant public institutions and organizations.

Within this framework, on 13 June 2025, representatives of the Central Bank visited the 108 ASAN Service Call Center, where they familiarized themselves with the center’s system and operational processes. They studied the call center’s structural capabilities, application processing procedures, and reporting practices.

The main objective of the meeting was to discuss advanced practices aimed at further improving the Central Bank’s 966 Call Center system and enhancing its efficiency and responsiveness. This initiative represents an important step toward improving service quality and ensuring more effective communication with financial service users.

The Central Bank held another training session for media representatives titled The Role of the Central Bank in Consumer Finance Protection.

Organized within the framework of the Human Rights Month, the training highlighted the Central Bank’s efforts to protect the rights of financial service consumers, the established legal and institutional framework in this area, as well as mechanisms for handling citizen appeals and the modern approaches under way.

The session also covered key aspects of reviewing citizens’ written and verbal appeals and ensuring access to information within the framework of consumer finance protection.

During the presentation, questions from media representatives were answered, and information was shared—using practical examples—about existing mechanisms and the process of managing citizen appeals

By the Decree of President Ilham Aliyev dated 18 June 2007, June 18 was established as Human Rights Day in the Republic of Azerbaijan. According to the decision of the Ombudsman of the Republic of Azerbaijan, the period from May 18 to June 18 is observed annually in the country as Human Rights Month. During this period, various initiatives promote legal awareness and a culture of law in society, highlight achievements in the field of human rights protection, and raise public awareness about the tasks and challenges ahead.

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Murad Mammadov, Director of the Central Bank’s Consumer Relations Department, delivered a speech at the Karabakh Regional DOST Center during a meeting organized within the framework of state monitoring of the protection of the rights of persons with disabilities. He highlighted Central Bank’s initiatives in coordination with relevant authorities concerning persons with disabilities.

At the event held in Barda city, representatives of several public institutions discussed state measures to protect the rights of persons with disabilities, identified the needs of persons with disabilities living in the regions, and addressed key topics such as healthcare, rehabilitation, social support measures, education, public transport, and ensuring accessibility to information.

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The Central Bank, which places special emphasis on citizen satisfaction and accessibility of communication channels, continuously monitors the efficiency of its application mechanisms. Since April of this year, to ensure the prompt receipt and response to citizen inquiries, appeals can be sent to the Central Bank electronically via the “myGov” platform.

The latest innovation allows citizens to secure an appointment with the Central Bank without visiting in person, using an online queue system integrated into the “myGov” platform. Citizens enter their intended visit date, time, and contact number in the platform’s ‘New Reservation’ section. On the appointed date and time, citizens go to the relevant ‘Reception Room’ at the Central Bank and enter the SMS confirmation code received in advance into the queue system. The system then provides a queue number, and the citizen is met by the responsible Central Bank staff according to this number.

Citizens can also cancel their online appointments via the ‘Cancel Reservation’ section of the “myGov” platform.

The Central Bank continues its initiatives to strengthen the protection of financial service consumers’ and investors’ rights. In this context, a meeting was held with the participation of nearly 150 representatives from the Association of Banks of Azerbaijan, Association of Insurers of Azerbaijan, Microfinance Association of Azerbaijan, FinTech Association of Azerbaijan, Capital Markets Association of Azerbaijan, and member organizations of these associations. This meeting marked another important step in advancing these initiatives.

The meeting focused on the role and importance of call centers in protecting the rights of financial service consumers and investors. The organization of the Central Bank’s call center operations was discussed, and recommendations were provided on ensuring accessibility of information through organizations’ hotline numbers. Subsequently, participants exchanged views on ways to enhance the effectiveness of efforts aimed at increasing citizen satisfaction. Suggestions for improving services provided to consumers were shared, and questions raised by the participants were addressed.

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The Central Bank continues to focus on improving efficiency in protecting the rights of financial service consumers and investors, as well as ensuring accessibility of information. To this end, the Q&A section on the Central Bank’s official website has been updated based on inquiries received by the Call Center. The Q&A database can be accessed through the following link:

https://www.cbar.az/page-73/view

As part of its ongoing efforts to enhance citizen satisfaction, the Central Bank has implemented an initiative to ensure that information about the 966 Hotline is displayed on the main pages of physical payment terminals, as well as on websites and mobile applications of electronic money and payment institutions operating across the country. This measure will allow consumers to promptly report difficulties or questions related to payment services, ensuring that they are investigated and addressed efficiently.

Note that, as a result of previous similar initiatives by the Central Bank, information about the 966 Hotline has already been made available in administrative buildings (branches and representative offices) of banks, non-bank credit institutions, insurance companies, and currency exchange offices operating throughout the country.

The Central Bank of the Republic of Azerbaijan continues its efforts to strengthen the protection of the rights of financial service consumers and investors. Within this framework, the next initiative was a mobile citizen reception held on June 4 in the city of Ganja.

Citizens were provided with relevant explanations regarding their inquiries, and applications requiring additional investigation were recorded. Necessary information was also obtained from citizens who submitted their requests verbally for further review.

Mobile receptions will continue to be organized to ensure consumer finance protection.

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The Central Bank organized an online meeting with representatives of associations and their working groups to strengthen the protection of financial service consumers’ rights. The meeting focused on enhancing efficiency in safeguarding consumer rights, restoring violated rights, and resolving disputes promptly and effectively. Subsequently, proposals were shared regarding initiatives planned for future implementation.

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On May 22, 2025, a seminar titled Protection of Human Rights, Rule of Law, Legal Culture, Legal Responsibility, and Promotion of Inclusive Society Principles was organized by the Academy of Justice and the Mediation Council with the participation of Central Bank staff and mediators. Discussions focused on the importance of protecting human rights, the role of the state in safeguarding human rights, and perspectives on the supremacy of law and the rule of law.

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A meeting was held at the Central Bank with representatives of the Azerbaijan Banks Association, Azerbaijan Insurers Association, Azerbaijan Microfinance Association, Azerbaijan FinTech Association Public Union, and the Azerbaijan Capital Market Participants Association. Meeting participants discussed activities planned within the framework of the Human Rights Month, announced by the Commissioner for Human Rights (Ombudsman) of the Republic of Azerbaijan. The meeting also included an exchange of views on strengthening the consumer finance protection, implementing joint projects with the associations, and enhancing the efficiency of working groups composed of member organizations within the associations.

Based on the first State Program on the Protection of Human Rights, approved on 18 June 1998, at the initiative of national leader Heydar Aliyev, June 18 was established as Human Rights Day in Azerbaijan by the decree of President Ilham Aliyev in 2007.

The Central Bank of the Republic of Azerbaijan continues to implement measures aimed at strengthening the protection of financial services consumers’ and investors’ rights. In this context, the next mobile reception was organized on 7 May 2025 in the Khachmaz district.

Citizens’ inquiries regarding financial services were heard, and detailed explanations were provided on the issues of their interest. Relevant information was collected from citizens who submitted verbal requests, and it was noted that additional information on the results of investigations conducted on these applications would be provided.

The majority of applications received concerned matters such as credit debt concessions, obtaining loans, phishing, requests for obligations in non-compliance with legislative requirements, insurance issues, and questions related to legislation.

The Central Bank plans to continue mobile receptions in the future to further ensure the consumer finance protection.

A meeting in the ‘open microphone’ format was held at the Central Bank with the participation of representatives from several joint-stock companies, organized jointly with the National Depository Center.

During the meeting, important information was provided on improving corporate governance in joint-stock companies, preparing issuers’ annual reports in accordance with legal requirements, convening general meetings of shareholders, and ensuring that companies operate in compliance with legislation. Questions from the representatives of the joint-stock companies were addressed during the discussion.

The Central Bank has previously held similar meetings in various districts to raise awareness among representatives of joint-stock companies.

These initiatives, carried out to protect investors’ rights, will continue in the future.

The Central Bank continues to focus on expanding citizens’ access to submit applications to the Bank and ensuring transparency and accessibility of information regarding these applications. A significant step in this direction has been taken by adding the Central Bank to the list of institutions serving citizens on the myGov platform, enabling the submission of electronic applications through this platform.

The myGov (my.gov.az) platform, a key component of digital government development in Azerbaijan which serves a wide user base, provides citizens with convenient and efficient access to public and private sector services through a single-window principle.

Citizens can now select the Central Bank from the relevant list on the myGov website and submit their applications to the Bank online.

Additionally, citizens can continue to submit applications through the Central Bank’s official website (cbar.az) or ensure their queries are registered by calling the 966 Hotline.

On 2 April 2025, the Central Bank of the Republic of Azerbaijan organized a mobile reception in Balakan District as part of its ongoing efforts to protect the rights of financial services consumers and investors. The reception covered citizens living in the administrative districts of Balakan, Sheki, Gakh, Zagatala, Gabala, and Oghuz.

During the meeting, citizens’ inquiries regarding financial services were heard, and necessary explanations were provided. Relevant information was collected from citizens who submitted verbal requests, and it was noted that additional updates would be provided regarding the results of investigations conducted on these applications. The majority of inquiries concerned issues such as credit debt concessions, removal of data from the Centralized Credit Registry, loan applications, release of guarantors from credit obligations, unauthorized debt collection, and agricultural insurance matters.

The Central Bank will continue organizing mobile receptions to protect the rights of financial services consumers. Citizens with additional questions are encouraged to contact the Bank via the 966 Hotline.

As part of its regular measures to protect citizens’ rights in financial services, the Central Bank held a mobile reception in Gazakh District on 5 March 2025.

During the reception, citizens’ inquiries regarding financial services, ATMs, and payment terminal installations were heard, and necessary explanations were provided. Information was also shared to enhance awareness of the addressed issues.

The Central Bank will continue holding mobile receptions to safeguard the rights of financial services consumers. Citizens may contact the 966 Hotline with any questions related to these receptions.

On 5 February 2025, the Central Bank organized a mobile reception in Tartar District as part of its efforts to protect the rights of consumers and investors. Nearly 30 citizens participated, raising inquiries related to credit payment concessions, installation of ATMs and payment terminals, and other issues. Citizens were provided with information about the Central Bank’s authorities and the benefits of cashless payments. Applications requiring further investigation were registered in accordance with the established procedure.

The Central Bank will continue holding mobile receptions to protect the rights of financial services consumers. Citizens with questions regarding the reception may contact the 966 Hotline.

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The Central Bank continues its initiatives to strengthen the protection of financial services consumers’ and investors’ rights, including holding mobile receptions across the country.

The next mobile reception will take place on February 5 in Tartar District, covering citizens residing in the administrative districts of Agjabadi, Aghdam, Agdere, Barda, Fuzuli, Khojavend, Khojaly, Shusha, and Khankendi.

During the reception, Central Bank representatives will provide necessary support in reviewing and responding to citizens’ inquiries regarding financial services. Applications can be submitted via the Bank’s 966 Hotline or the WhatsApp number +994 55 966 19 66.

To enhance the protection of financial services consumers’ rights, working groups have been established under relevant associations. These groups, operating under the Azerbaijan Banks Association, Azerbaijan Insurers Association, Azerbaijan Microfinance Association, Azerbaijan FinTech Association, and Azerbaijan Capital Market Participants Association, aim to increase efficiency in protecting consumer rights, restore violated rights, and ensure prompt and effective resolution of disputes.

On 27 January 2025, an online meeting was held with the participation of the working groups and association representatives. The meeting focused on ensuring compliance with legal requirements when responding to citizen applications addressed to supervised entities, enhancing the effectiveness of the working groups, and reviewing past and planned activities. Suggestions related to the protection of consumers’ and investors’ rights were also discussed.

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On 18 December 2024, a meeting was held at the Central Bank of the Republic of Azerbaijan with representatives of the Azerbaijan Banks Association, the Azerbaijan Insurers Association, the Azerbaijan Microfinance Association, the Azerbaijan Fintech Association Public Union, and the Association of Participants of the Securities Market of Azerbaijan. The meeting aimed to strengthen cooperation in the protection of the rights of financial service consumers and investors.

During the discussions, participants reviewed activities of working groups operating within the associations in the field of consumer and investor protection. They discussed analyzing consumer complaints through these working groups, preventing rights violations, restoring infringed rights, and implementing joint initiatives. Participants also exchanged views on ways to make these efforts more effective and sustainable moving forward.

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In accordance with the Law of the Republic of Azerbaijan on the Central Bank of the Republic of Azerbaijan, one of the Bank’s key functions is to take measures to protect the rights of consumers and investors in financial markets. The Central Bank consistently carries out work in this direction and ensures that the public is informed about these efforts.

As part of these ongoing measures, the Central Bank has sent a warning letter to all banks, non-bank credit institutions, insurers, reinsurers, investment companies, payment and electronic money institutions operating across the country. The letter aims to ensure that financial service consumers and investors have accessible information about hotline numbers of supervised entities and that employees working in this area are adequately informed.

The Central Bank of the Republic of Azerbaijan continues to implement measures aimed at strengthening the protection of the rights of financial service consumers and investors. Within this framework, a mobile citizen reception was held in Salyan District on October 30. During the reception, citizens’ inquiries related to financial services were heard, and the necessary explanations were provided. In cases where verbal requests were submitted, essential information was collected from citizens, and they were informed that they would receive additional updates upon completion of relevant investigations.

The Central Bank plans to regularly organize mobile receptions across the country to further support the protection of consumers’ rights in financial services.

The Central Bank always focuses on protecting citizens’ rights in the field of financial services and on improving the quality of services provided to them. Among these initiatives, mobile receptions across the country plays a particularly important role.

The next mobile citizen reception was on September 24 in Neftchala district. During the meeting, citizens’ inquiries related to financial services were heard, and necessary explanations were provided. Suggestions made by participants to improve the quality of services were also recorded.

Mobile receptions will continue to be organized to strengthen the consumer finance protection.

Citizens may send additional proposals regarding mobile receptions to the Central Bank via the electronic submission system at www.contact.e-cbar.az or contact the 966 Call Center.

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As part of ongoing measures to protect citizens’ rights in financial services and improve service quality, the Central Bank held a mobile citizen reception in Sabirabad District on 20 August 2024.

Citizens’ requests mainly concerned life insurance, loan applications, requests for loan restructuring or forgiveness, inquiries about outstanding loan balances, and requests to remove delinquent days from the Centralized Credit Register

During the reception, citizens’ inquiries were reviewed, and relevant explanations were provided. Some matters were resolved on the spot. Citizens requiring further investigation received assistance in preparing written applications.

The Central Bank will continue organizing mobile receptions to ensure the protection of financial service consumers’ rights.

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The Central Bank continues to expand opportunities for financial service consumers and investors to communicate with the institution and to improve transparency and accessibility of information about submitted applications. As part of these efforts, citizens can now track the execution status of their applications sent to the Central Bank, either directly or through other institutions, in paper form.

Applicants can visit contact.e-cbar.az, enter their PIN in the ‘My Other Applications’ section, and monitor the progress of their submission. To use this feature, the PIN number should be included in the initial application.

When applications are submitted via the contact.e-cbar.az portal, status updates are automatically sent to the applicant’s registered mobile number, and information on the final result — if the application is confirmed with an advanced electronic signature — is sent to their email address. Applicants can also monitor the progress of their cases via their personal online dashboards.

Financial service consumers and investors may contact the Central Bank through the following channels:

The 966 Hotline

By mail to the Central Bank’s postal address

Online via e-cbar.az

By visiting the Central Bank’s HQ or regional offices to submit applications in person

By direct submission of paper documents

In accordance with the Presidential Decree declaring 2024 as the ‘Year of Solidarity for a Green World’, the Central Bank encourages citizens to use electronic channels via contact.e-cbar.az to reduce paper use and support environmental sustainability.

For further inquiries, citizens may contact the Central Bank’s 966 hotline.

As part of the Central Bank’s initiatives to protect consumer rights, a meeting was held with authorized representatives of currency exchange offices.

During the meeting, participants discussed strengthening organizational mechanisms to ensure that inquiries addressed to exchange offices by the Central Bank are responded to in compliance with legal requirements. They also exchanged views on enhancing cooperation in protecting consumer rights and improving service quality.

To ensure accessibility for consumers seeking information or submitting inquiries, information regarding the Central Bank’s 966 hotline has been made publicly available in all currency exchange offices operating throughout the country.

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A meeting was held between representatives of the Central Bank and the staff of the Social Research Center. During the meeting, a presentation was shown highlighting the Central Bank’s experience and activities in protecting consumer rights.

The meeting participants discussed the prospects for cooperation between the Central Bank and the Social Research Center.

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The Central Bank initiated a meeting for the Azerbaijan Insurers Association and representatives of its member insurers. A presentation was delivered to the meeting participants on Central Bank’s activities on consumer finance protection.

Additionally, discussions were held on strengthening mutual cooperation in protecting the rights of financial services consumers, improving the quality of services provided to them, and other issues on the agenda, with participants’ questions addressed.

The Central Bank always focuses on the consumer finance protection and the implementation of related measures. A series of related initiatives will continue.

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As part of ongoing efforts to protect the rights of financial service consumers and investors, the Central Bank organized a mobile citizen reception in Aghjabadi District on 39 May 2024. During the reception, citizens received explanations regarding their submitted requests. For issues requiring further investigation, assistance was provided in preparing written applications. Citizens submitting verbal inquiries were informed that they would receive updates on the results of subsequent investigations.

Mobile citizen receptions will continue as part of the Central Bank’s commitment to protecting consumers’ rights.

Protecting the rights of financial service consumers and implementing relevant measures remain among the Central Bank’s top priorities. On May 20, a meeting of the Expert Group on the Consumer Finance Protection—comprising Azerbaijan Banks Association member banks—was held at the Central Bank.

 A presentation was delivered outlining the Central Bank’s ongoing initiatives in this area. Discussions also focused on enhancing cooperation between banks and the Central Bank, and on improving service quality. The meeting concluded with a Q&A session.

The Central Bank plans to broaden cooperation with relevant institutions and continue implementing regular initiatives in this field.

The Call Center of the Central Bank of the Republic of Azerbaijan has been upgraded with new features. Citizens can now benefit from ‘callback’ and ‘call request’ services. Under the callback feature, if a citizen’s call to the 966 Hotline cannot be answered for any reason, the missed call is automatically registered, and staff subsequently contact the caller. Citizens may also request a callback via the Central Bank’s WhatsApp service at +994 55 966 19 66, without having to call the hotline directly.

The call request function allows citizens, while contacting the hotline, to select ‘1’ to schedule a return call. These updates aim to enhance service quality for financial service consumers and investors and increase citizen satisfaction.

The 966 hotline operates on business days from 09:00 to 18:00.

Aprel ayının 29-da Azərbaycan Respublikasının Mərkəzi Bankının təşəbbüsü ilə eşitmə və nitq məhdudiyyətli şəxslərin maliyyə xidmətlərindən istifadəsi zamanı informasiya əlçatanlığının təmin edilməsi məqsədilə görüş keçirilib. “Eşitmə və Nitq Məhdudiyyətli Şəxslərə Sosial Yardım” İctimai Birliyi, Azərbaycan Banklar Assosiasiyası, Azərbaycan Mikromaliyyə Assosiasiyası və Azərbaycan Sığortaçılar Assosiasiyasının iştirakı ilə baş tutan görüş zamanı bu istiqamətdə mövcud olan çətinliklər və onların həlli yolları ətrafında müzakirələr aparılıb.

Qeyd edək ki, əlilliyi olan şəxslərin maliyyə xidmətlərindən istifadəsi zamanı ayrı-seçkiliyə yol verilməməsi ilə bağlı Mərkəzi Bank tərəfindən müvafiq tədbirlər həyata keçirilib, bir sıra təşkilatlarla əməkdaşlıq çərçivəsində işlər görülüb. Bu istiqamətdə işlərin icrası hazırda da davam etməkdədir.

As part of its continuous efforts to protect the rights of financial service consumers and investors, the Central Bank held a mobile citizen reception in Guba City on 29 February 2024. During the event, citizens’ inquiries were heard, mainly concerning loan restructuring and forgiveness, deletion of information from the Centralized Credit Register, loan applications, release of guarantors from liability, debt collection without consent, as well as compulsory insurance for real estate, motor vehicle owners’ liability, and agricultural insurance.

Citizens received appropriate explanations for their inquiries, and those requiring further investigation were assisted in preparing written applications. Some banking-related issues were resolved on the spot. Citizens who submitted oral inquiries were informed that they would receive additional updates following the investigations. Informational brochures were also distributed.

Mobile citizen receptions will continue to be organized for the protection of financial service consumers’ rights.

As is well known, one of the key functions of the Central Bank is to implement measures for protecting the rights of consumers and investors in financial markets. To strengthen related supervisory measures, the Central Bank has approved the Regulation on test purchase of financial services (products).

Under these Regulations, the Central Bank is authorized to conduct test purchases of financial services offered by supervised entities, allowing for the covert collection of data on market conduct and assessment of service quality.

Test purchases will also enable the Central Bank to examine complaints or reports of violations in the media and determine whether legislative amendments in the area of financial services are necessary.

The Central Bank of the Republic of Azerbaijan every now and then holds meetings with the entities under its supervision within the scope of its authority and conducts discussions with them to enhance the quality of services provided to financial services consumers and investors. A series of such meetings was also carried out in December 2023.

In particular, on 18 December 2023, the Central Bank organized a meeting with representatives of supervised entities, including credit institutions (banks and non-bank credit organizations), insurers, and investment companies. Representatives of the Azerbaijan Banks Association, the Mediation Council, the Azerbaijan Microfinance Association, and the Azerbaijan Insurers Association also participated in the meeting.

During the meeting, discussions were held with representatives of supervised entities and mediation organizations regarding the results of the year. Suggestions on further optimization and improvement of service areas were heard, and the next steps to be taken were discussed.

Participants of the meeting voiced proposals for improving services provided to financial services consumers, and their questions were answered by the Central Bank.

One of the important tasks of the Central Bank of the Republic of Azerbaijan is to protect the rights of financial services consumers and investors. In this regard, to increase transparency, it has been decided that the complaint index on bank customers use of banking services will be published monthly on the official website of the Central Bank.

The Central Bank of the Republic of Azerbaijan continually focuses on protecting the rights of financial service consumers and improving consumer satisfaction. As one of the next steps, a survey has been introduced to measure citizen satisfaction with written appeals answered by the Central Bank and evaluate the performance of the relevant structural unit. This survey is accessible through a link included in the response letters, allowing the applicants who receive the response to answer the relevant questions and participate in the evaluation.

Previously, in the ‘Reception Room’ of the Central Banks administrative building at 27 Bulbul Avenue, QR codes and survey forms were provided for citizens to scan and participate in satisfaction measurement.

In addition, efforts are under way to implement an evaluation process for calls received via the Central Banks ‘966’ Hotline.

On October 4, a meeting was held between the employees of the Central Bank of the Republic of Azerbaijan and joint-stock companies operating in the Astara district.

During the meeting, Central Bank representatives provided practical recommendations on improving corporate governance in joint-stock companies, preparing issuers’ annual reports in accordance with legal requirements, convening general meetings of shareholders, and ensuring that the companies activities comply with legislation.

This meeting, held with the support of the Astara District Executive Authority, was organized in consideration of the importance of protecting shareholders rights and the need to provide a detailed explanation of the legislative requirements for the management bodies of joint-stock companies.

The Central Bank plans to conduct various events aimed at protecting the rights of shareholders.

Considering the importance of protecting shareholders rights and the benefits of providing a detailed explanation of legislative requirements for management bodies of joint-stock companies, employees of the Central Bank of the Republic of Azerbaijan’s Consumer Finance Protection Division held a meeting with joint-stock companies operating in Lankaran city on 29 September 2023, with the support of the Lankaran city Executive Authority.

During the meeting, participants were provided with educational guidance on improving corporate governance in joint-stock companies, preparing issuers’ annual reports in accordance with legal requirements, convening general meetings of shareholders, and ensuring that companies activities comply with legislation.

Various activities aimed at protecting shareholders rights continue to be carried out by the Central Bank.

The Consumer Relations Department of the Central Bank of the Republic of Azerbaijan works to protect the rights of financial services consumers and investors, while also continuously organizing activities to improve financial literacy among consumers. As part of these efforts and to expand their scope, a meeting was held on 24 August 2023, in cooperation with the Mediation Council, which regulates mediation as an alternative dispute resolution mechanism.

During the meeting, electronic resources developed by the Central Bank to raise financial literacy for various target groups (www.infobank.az, www.edu.e-cbar.az, www.bizimpullar.az) were presented. Discussions were held on organizing training sessions for mediators to raise financial literacy, providing access to the relevant electronic resources via the Mediation Council’s official website, and preparing educational resources within the framework of joint cooperation to inform financial services consumers about mediation activities.

As a result of the meeting, mutual events and activities are planned to be carried out.

As part of its ongoing efforts to protect the rights of financial services consumers and investors, the Central Bank of the Republic of Azerbaijan, in cooperation with the ‘Regional Development’ Public Union, organized a mobile reception of citizens in Sheki city on 31 August 2023. During the reception, citizens inquiries were heard. The inquiries primarily concerned issues such as loan debt restructuring, deletion of information from the Centralized Credit Registry, matters covered by the Decree of the President of the Republic of Azerbaijan dated February 28, 2019, on Additional Measures to Resolve Problem Loans of Individuals in the Republic of Azerbaijan, loan requests, release of a guarantor from repayment obligations, and debt recording without acceptance. Explanations were provided to citizens regarding the issues raised in their inquiries. For matters requiring further investigation, citizens were given the opportunity to submit written applications, ensuring their right to formal appeals. Some inquiries related to banking activities were resolved on the spot. Additionally, necessary information was obtained from citizens submitting verbal requests, and they were informed that they would receive follow-up information on the results of the review.

Educational booklets were also distributed to citizens during the reception. Previously, mobile receptions had been held in Lankaran and Barda cities. Mobile receptions will continue to be organized to protect the rights of financial services consumers.

The National Depository Center is the central depository of the Republic of Azerbaijan, established by the Central Bank. Since the Central Bank of the Republic of Azerbaijan is responsible for protecting the rights of investors and other participants in the capital market, as well as carrying out other activities related to capital market legislation within its authority, it maintains close cooperation with the National Depository Center.

As a result of the cooperation between the Central Bank and the National Depository Center, a number of initiatives are being implemented. With the support of the Central Bank and as part of these ongoing initiatives, the ‘966-0’ hotline has been established by the National Depository Center to expand opportunities for investors and other capital market participants to contact the Center.

Considering the importance of protecting shareholders rights, as well as the benefits of providing more detailed explanations of the legal requirements for the governing bodies of shareholder companies, a representative from the Consumer Finance Protection Division of the Central Bank of the Republic of Azerbaijan held a meeting with joint-stock companies operating in Jalilabad district on 11 August 2023, with the support of the Jalilabad District Executive Authority.

During the meeting, our team conducted educational activities aimed at improving corporate governance in joint-stock companies, preparing issuers’ annual reports in accordance with the requirements of legislation, convening shareholders general meetings, and ensuring that companies operate in compliance with legal regulations.

Various initiatives aimed at protecting shareholders rights continue to be implemented by our team.

Providing opportunities for financial service consumers and investors to obtain information about questions and problems they encounter, as well as submit inquiries and complaints to the Central Bank, remains a constant priority for the Bank. To this end, information boards about the ‘966’ hotline have been installed in the administrative buildings of banks, non-bank credit institutions, and insurance companies.

As a next step, the Central Bank contacted the Azerbaijan Stock Market Consumers Association to ensure that information about the ‘966’ hotline is placed in prominent locations in administrative buildings of investment companies, as well as in agreements concluded between investment companies and citizens. The placement of this information has been successfully implemented.

The Central Bank of the Republic of Azerbaijan focuses on protecting the rights of financial service consumers and investors, as well as raising financial literacy. The Central Bank regularly takes measures to resolve problems citizens encounter when using financial services and enhance financial literacy.

Now, the Bank issues a monthly electronic bulletin, providing reports on the work carried out in protecting the rights of financial service consumers and investors, as well as in promoting financial literacy, and on the events held in these areas. The first bulletin covering these activities was published in July of the current year.

As part of the ongoing measures by the Central Bank of the Republic of Azerbaijan to protect the rights of financial service consumers and investors, a mobile reception of citizens was organized in Barda on 31 July 2023, with the support of the ‘Regional Development’ Public Union. During the reception, citizens inquiries were heard. The requests mainly concerned loan debt restructuring, removal of information from the Centralized Credit Registry, issues covered by the Decree of the President of the Republic of Azerbaijan dated February 28, 2019, on Additional Measures for the Resolution of Problem Loans of Individuals in the Republic of Azerbaijan, loan applications, release of guarantors from loan repayment, and debt collection without acceptance.

Citizens were provided with explanations regarding their inquiries, and for matters requiring further investigation, they were given an opportunity to submit written appeals. Some requests related to banking operations were resolved on the spot. Additionally, information necessary for follow-up on verbal requests was collected, and citizens were informed that additional details would be provided on the results of the investigation.

Informational booklets were distributed to citizens during the reception. The organization of field receptions continues as part of efforts to protect the rights of financial services consumers.

The Central Bank of the Republic of Azerbaijan, taking into account its ongoing focus on protecting the rights of financial service consumers and investors, as well as expanding their ability to submit applications, has taken the next step. From now on, if a citizen’s mobile number is provided in applications submitted on paper, an SMS notification will be sent to the applicant regarding the registration and response status of his application.

Previously, such notifications were sent only to citizens who submitted applications electronically, either to their email addresses or mobile phone numbers.

The Central Bank of the Republic of Azerbaijan continues to implement ongoing measures and new projects to protect the rights of financial service consumers and investors. As part of these efforts, the Central Bank, together with the Azerbaijan Insurers Association, the Center for Social Studies, and the Mediation Council, organized a scientific conference titled ‘Successful Ways to Resolve Insurance Disputes.’

The conference was attended by the management of the Central Bank and the Mediation Council, deputies of the Milli Majlis, mediators, experts, and media representatives. During the meeting, the current situation, and prospects for protecting the rights of financial service consumers and investors were discussed. The importance of mediation as an alternative method for resolving financial disputes was also emphasized. The conference also provided information on a model reconciliation agreement proposed by the Mediation Council for resolving insurance disputes through mediation.

The Central Bank of the Republic of Azerbaijan, keeping citizen satisfaction at the forefront, has introduced a number of updates to its official website for the use of investors and issuers. Specifically, a new subsection titled ‘Capital Market’ has been added under the ‘Rights of Consumers and Investors’ section. This subsection provides essential information on shareholders rights and obligations, as well as the submission of issuers’ annual and semi-annual reports. Additionally, the Regulations on requirements for issuer management reports and the information that issuers are required to submit have been placed in the newly created subsection. By accessing this section, issuers can familiarize themselves with the relevant legislative acts and review information related to management reports. The update aims to ensure shareholders and joint-stock companies have convenient access to the necessary information.

A scientific conference on ‘Successful Resolution of Banking Disputes’ was jointly organized by the Central Bank of the Republic of Azerbaijan, the Azerbaijan Banks Association, the Social Research Center, and the Mediation Council. The conference was attended by the management of the Central Bank and the Mediation Council, members of the Milli Majlis, mediators, experts, and media representatives. During the meeting, detailed information was provided on the work carried out to protect the rights of financial services consumers and investors. The significance of mediation as an alternative method for resolving financial disputes was also discussed. Additionally, the Mediation Council presented a sample conciliation agreement to the conference participants.

The Central Bank of the Republic of Azerbaijan (hereinafter – the Central Bank) consistently pays attention to protecting the rights of financial service consumers and investors. To this end, regular events are organized, and cooperation with relevant institutions is maintained. The Central Bank carries out on-site, online, and mobile receptions related to the protection of consumers and investors rights. As part of these efforts, a mobile reception of citizens was held in Lankaran city on 24 June 2023, jointly organized by the Central Bank and the ‘Regional Development’ Public Union. During the reception, citizens’ inquiries were heard, and appropriate explanations were provided. Informational booklets were also distributed to the attendees. The mobile reception of citizens will continue to be conducted regularly.

Considering the importance of protecting shareholders rights and the benefits of explaining in detail the requirements of legislation for the management bodies of joint-stock companies, an employee from the Consumer Finance Protection Division of the Central Bank of the Republic of Azerbaijan organized meetings with joint-stock companies operating in Balakan, Zaqatala, Oghuz districts, and Sheki city. These meetings took place on June 16–17, 2023, with the support of the respective district and city executive authorities.

During the meetings, the Central Bank provided educational guidance on improving corporate governance in joint-stock companies, preparing annual reports by issuers in accordance with legislative requirements, convening general meetings of shareholders, and ensuring that the activities of companies comply with legal regulations. Various events aimed at protecting shareholders rights continue to be held by the Central Bank.

The Central Bank of the Republic of Azerbaijan has been implementing relevant measures to ensure that no discrimination occurs when providing financial services to persons with disabilities. One of these measures, following the Bank’s recommendation, was the creation of a Working Group on the Formation and Improvement of Special Approaches Toward Persons with Disabilities by the Association of Banks of Azerbaijan. Projects are under way to provide qualitative financial services to persons with disabilities.

Within this framework, on June 7, 2023, a webinar titled ‘Understanding Disability, Universal Design, and Corporate Social Responsibility’ was held by the Union of Organizations for the Disabled, with participation from the Central Bank, the Association of Banks of Azerbaijan, the Association of Insurers of Azerbaijan, and the Azerbaijan Capital Market Participants Association. During the webinar, the importance of protecting the rights of persons with disabilities when using financial services was highlighted, as well as enhancing accessibility for these individuals when acquiring financial services. The event also emphasized the necessity of preventing any discrimination against persons with disabilities in the provision of financial services.

The Central Bank of the Republic of Azerbaijan consistently prioritizes the protection of financial services consumers rights. To enhance the efficiency of responding to incoming inquiries and to expand consumers ability to reach the Bank, an agreement with ‘Aztelekom’ LLC has been signed regarding calls from regional landline networks (excluding the Nakhchivan Autonomous Republic) to the ‘966’ Hotline. As a result, subscribers will no longer be charged for calls made from Aztelekom’s landline networks to the Central Banks Hotline via the short number ‘966.’

Considering the importance of protecting shareholders rights and the benefits of more thoroughly explaining the legal requirements imposed on the management bodies of joint-stock companies, an employee from the Central Bank’s Consumer Finance Protection Division held meetings with joint-stock companies in Bilasuvar, Beylagan, and Agjabadi on 25 May 2023, with the support of the respective District Executive Authorities.

During these meetings, participants were provided with guidance on improving corporate governance, preparing annual reports in accordance with legal requirements, convening general meetings of shareholders, and ensuring that the companies operate in compliance with legislation.

The Central Bank will continue to hold various events aimed at protecting shareholders rights.

The Central Bank of the Republic of Azerbaijan consistently prioritizes the protection of financial service consumers and investors rights. To this end, regular measures are undertaken, including citizen reception, both in-person and via mobile outreach. In this context, a meeting was held with the ‘Regional Development’ Public Union to discuss the organization of citizen receptions in regions and other related topics. During the meeting, joint activities were discussed for conducting mobile receptions as one of the citizen reception methods.

One of the key areas of activity of the Central Bank of the Republic of Azerbaijan is the protection of the rights of financial services consumers and investors, as well as the restoration of their violated rights. In this regard, the Central Bank regularly undertakes various measures. As part of these efforts, a meeting was organized to expand mutual cooperation and strengthen joint activities with the A meeting was held between the Central Bank of the Republic of Azerbaijan and the Azerbaijan Stock Market Participants Association (AFBIA). During the meeting, participants discussed the protection of investor rights, the restoration of violated rights in line with legal requirements, and the enhancement of investors’ access to complaint and appeal mechanisms. The significance of the Central Bank’s Methodological Guidelines on handling consumer complaints in financial institutions was also emphasized. The discussion further highlighted the importance of mediation as an alternative dispute resolution mechanism. Participants exchanged views on improving processes for reviewing, investigating, and resolving complaints, as well as on developing mediation practices within the financial sector.

Taking into account the importance of protecting shareholders’ rights and the benefits of providing more detailed explanations of legislative requirements to the management bodies of joint-stock companies, the Central Bank of the Republic of Azerbaijan organized a series of meetings with joint-stock companies operating in Barda District and the cities of Yevlakh and Mingachevir on 22 May 2023. The meetings were conducted by a representative of the Central Bank’s Consumer Finance Protection Division, with the support of the Executive Authorities of Barda District, and Yevlakh and Mingachevir cities

During the meetings, participants were provided with information and guidance on improving corporate governance practices within joint-stock companies, preparing issuers’ annual reports in accordance with legal requirements, convening general meetings of shareholders, and ensuring that company activities are carried out in compliance with applicable legislation.

The Central Bank continues to organize various initiatives aimed at strengthening the protection of shareholders’ rights.

On 15 May 2023, a meeting was held between the Central Bank of the Republic of Azerbaijan and the National Depository Center to discuss potential cooperation aimed at improving corporate governance in joint-stock companies and ensuring that their activities are conducted in accordance with legislative requirements.

During the meeting, the importance of organizing relevant initiatives with joint-stock companies was emphasized. The participants discussed the protection of investor rights and the exchange of information between the Central Bank and joint-stock companies regarding the submission of annual reports as required by law. Both sides also exchanged views on implementing joint measures to strengthen cooperation in these areas.

Recognizing the importance of protecting shareholders’ rights and the benefits of providing more detailed explanations of legislative requirements to the management bodies of joint-stock companies, the Central Bank of the Republic of Azerbaijan organized a series of meetings on 12 May 2023, with joint-stock companies operating in the districts of Shamakhi, Agsu, and Ismayilli. The meetings were conducted by a representative of the Central Bank’s Consumer Finance Protection Division, with the support of the Executive Authorities of Shamakhi, Agsu, and Ismayilli districts

During the sessions, participants received information and guidance on improving corporate governance practices within joint-stock companies, preparing issuers’ annual reports in compliance with legal requirements, convening general meetings of shareholders, and ensuring that company operations are carried out in accordance with applicable legislation.

The Central Bank continues to hold various events and initiatives aimed at enhancing the protection of shareholders’ rights.

During the meeting, the Central Bank emphasized its continuous focus on protecting the rights of financial services consumers and highlighted the importance of mediation as an alternative dispute resolution mechanism.

The discussions centered on establishing effective cooperation between the Mediation Council and the Central Bank. The participants also exchanged views on strengthening the role of mediation in resolving disputes within the insurance sector. Additionally, the parties discussed the organization of a joint scientific-practical conference on this topic with the participation of market stakeholders in the near future.

On 4 May 2023, a meeting was held at the DOST Agency under the Ministry of Labor and Social Protection of Population of the Republic of Azerbaijan, with the participation of the Central Bank of the Republic of Azerbaijan and the Azerbaijan Banks Association, within the framework of public monitoring on the protection of the rights of persons with disabilities.

During the meeting, participants discussed the work carried out in the field of public monitoring on the protection of the rights of persons with disabilities. The Central Bank provided information on the measures taken to ensure accessibility for persons with disabilities in the use of financial services, prevent discrimination, and incorporate these principles both into the internal regulations and practical operations of credit institutions. At the conclusion of the meeting, participants exchanged views on further steps in this area and agreed to continue cooperation.

Recognizing the importance of protecting shareholders’ rights and the benefits of providing more detailed explanations of legislative requirements to the management bodies of joint-stock companies, the Central Bank of the Republic of Azerbaijan organized a series of meetings on 3 May 2023, with joint-stock companies operating in the districts of Kurdamir and Ujar. The meetings were conducted by a representative of the Central Bank’s Consumer Finance Protection Division, with the support of the Executive Authorities of Kurdamir and Ujar districts

During the meetings, participants received information and guidance on improving corporate governance practices within joint-stock companies, preparing issuers’ annual reports in accordance with legal requirements, convening general meetings of shareholders, and ensuring that company activities are carried out in compliance with applicable legislation.

The Central Bank continues to organize various initiatives aimed at strengthening the protection of shareholders’ rights.

Taking into account the importance of protecting shareholders’ rights and the benefits of providing more detailed explanations of legislative requirements to the management bodies of joint-stock companies, the Central Bank of the Republic of Azerbaijan organized a series of meetings on 28 April 2023, with joint-stock companies operating in the districts of Sabirabad and Imishli. The meetings were conducted by a representative of the Central Bank’s Consumer Finance Protection Division, with the support of the Executive Authorities of Sabirabad and Imishli districts.

During the meetings, participants were provided with information and guidance on improving corporate governance within joint-stock companies, preparing issuers’ annual reports in accordance with legislative requirements, convening general meetings of shareholders, and ensuring that company operations are carried out in compliance with applicable laws.

The Central Bank continues to organize various initiatives aimed at enhancing the protection of shareholders’ rights.

To enhance the efficiency of responding to inquiries from residents of the Nakhchivan Autonomous Republic regarding the activities of the Central Bank of the Republic of Azerbaijan’s supervised entities (banks, insurance companies, and non-bank credit institutions), and to expand consumer access to communication channels, the ‘2244’ hotline is now operating through the Central Bank’s Nakhchivan Office. Measures have been taken to raise awareness of the ‘2244’ hotline, ensuring that residents of the Nakhchivan AR can promptly contact the Central Bank to address questions or obtain information related to financial services.

In this regard, informational notices about the ‘2244’ hotline have been placed in visible locations within the administrative premises (branches and offices) of banks, insurers, and non-bank credit institutions operating in the Nakhchivan AR. Additionally, details about the hotline have been included in agreements concluded between consumers and supervised entities.

Recognizing the importance of protecting shareholders’ rights and the benefits of providing more detailed explanations of legislative requirements to the management bodies of joint-stock companies, the Central Bank of the Republic of Azerbaijan organized a meeting on 20 April 2023, with joint-stock companies operating in the district of Goychay. The meeting was conducted by a representative of the Central Bank’s Consumer Finance Division, with the support of the Executive Authority of Goychay District.

During the meetings, participants were provided with information and guidance on improving corporate governance practices within joint-stock companies, preparing issuers’ annual reports in accordance with legal requirements, convening general meetings of shareholders, and ensuring that company operations are conducted in compliance with applicable legislation.

The Central Bank continues to organize various initiatives aimed at enhancing the protection of shareholders’ rights.

The Central Bank of the Republic of Azerbaijan (the Central Bank) continuously prioritizes the protection of consumer rights. In this regard, necessary measures are regularly taken to resolve disputes between consumers of financial services and the entities supervised by the Central Bank. One of the alternative dispute resolution methods in regulating the relationship between supervised entities and consumers is the organization of a mediation process. Thus, on 15 March 2022, by the decision of the Management Board of the Central Bank, the Methodological Guidelines on handling consumer complaints in financial institutions were approved. The Guidelines specifically emphasize the importance of the mediation process for dispute resolution.

To regulate disputes between supervised entities and consumers through mediation and carry out related awareness-raising activities, a memorandum was signed between the Mediation Council and the Azerbaijan Banks Association (ABA) as well as the Azerbaijan Micro-finance Association (AMFA), with the support of the Central Bank.

Considering the importance of protecting shareholders’ rights, as well as the benefits of providing a more detailed explanation of the requirements of legislation in this area to management bodies of joint-stock companies, meetings were held on 14 April 2023, with joint-stock companies operating in the mentioned districts. The meetings were organized by the staff of the Consumer Finance Protection Division of the Central Bank of the Republic of Azerbaijan, with the support of the Executive Authorities of the Khachmaz and Gusar districts.

During the meetings, our team conducted awareness-raising activities on improving corporate governance in joint-stock companies, preparing issuers’ annual reports in accordance with the procedures established by law, convening general meetings of shareholders, and ensuring that the activities of the companies are carried out in compliance with legislation. Various events organized by our team to protect shareholders’ rights continue to be carried out.

Considering the importance of protecting shareholders’ rights, as well as the benefits of providing a more detailed explanation of the requirements of legislation in this area to the management bodies of joint-stock companies, meetings were held on April 7, 2023, with joint-stock companies operating in the aforementioned districts and city. These meetings were organized by the staff of the Consumer Finance Protection Division of the Central Bank of the Republic of Azerbaijan, with the support of the Executive Authorities of Saatly and Salyan districts and the city of Shirvan.

During the meetings, our team conducted awareness-raising activities on improving corporate governance in joint-stock companies, preparing issuers’ annual reports in accordance with the procedures established by law, convening general meetings of shareholders, and ensuring that the activities of the companies are carried out in compliance with legislation.

Various events organized by our team to protect shareholders’ rights continue to be carried out.

Upon the recommendation of the Central Bank of the Republic of Azerbaijan, the Expert Group on Consumer Finance Protection was established under the Azerbaijan Banks Association (ABA) to operate on a permanent basis, which held its first meeting on 30 March 2023. The aim of establishing the Group is to strengthen cooperation among the Central Bank, ABA, the Banking Ombudsman, and the Mediation Council in this field; discuss proposals on handling, analyzing, and resolving consumer complaints; study international best practices; and promote the implementation of unified approaches.

At the meeting, also attended by representatives of the Central Bank, participants discussed the Group’s planned activities, set objectives, and exchanged views on its areas of focus. The importance of creating favorable conditions for consumers to easily submit complaints, ensuring customer satisfaction, addressing complaints effectively, and resolving disputes through non-judicial mechanisms—specifically via the Banking Ombudsman and mediation—was emphasized. The necessity of taking appropriate measures in this regard within banks was also highlighted. Members of the Financial Disputes Committee, composed of representatives from the Central Bank, ABA, and the Mediation Council, also participated in the meeting and provided information on the importance of mediation as one of the alternative dispute resolution methods.

At the end of the event, representatives of the Central Bank and ABA responded to questions from bank representatives and mediators.

25 banks and 5 non-bank financial institutions are now members of the ABA.

Citizens’ appeals are constantly kept in focus by the Central Bank, and efforts to enhance the protection of financial services consumers’ rights continue to be carried out in this regard. As part of these efforts, and based on the recommendation of the Central Bank, a Consumer Finance Protection Working Group has been established within the Azerbaijan Banks Association (ABA). The creation of this Working Group aims to facilitate joint discussions in the field of consumer rights protection, enhance efficiency, ensure the restoration of violated rights, and strengthen the prompt and effective resolution of disputes.

As the country’s financial regulatory authority, the Central Bank pays particular attention to ensuring that no discrimination occurs in the provision of banking services to persons with disabilities. To improve services provided to financial services consumers in this category and prevent discrimination, the Central Bank regularly holds meetings and conducts monitoring activities.

In this context, and to discuss related current efforts, a meeting was held on 14 February 2023, with the participation of representatives from the Central Bank, the ABA, and the Union of Disabled People’s Organizations of the Republic of Azerbaijan (UDPO).

During the meeting, the UDPO presented proposals on conducting training and awareness-raising activities to promote understanding of disability issues, as well as on developing projects aimed at ensuring accessibility for persons with disabilities by equipping credit institutions with the necessary tools and infrastructure.

During the meeting, extensive discussions were held on enhancing cooperation between the two institutions to ensure more effective protection of consumer rights. In addition, views were exchanged on promoting investor awareness in the field of capital markets.

As is known, the Central Bank of the Republic of Azerbaijan (the Central Bank) continues to implement relevant measures to prevent discrimination against persons with disabilities in the provision of banking services. One such measure, based on the recommendation of the Central Bank, was the establishment by the Azerbaijan Banks Association (the Association) of a Working Group on the Development and Improvement of a Special Approach toward Persons with Disabilities. It should be noted that all banks are represented in this Working Group.

The main objective of the Working Group is to improve the quality of banking services provided to consumers with disabilities and ensure that no discrimination occurs under any circumstances. Regular meetings are held with the participation of the Central Bank, the Association, and the Working Group to discuss the implementation of necessary measures aimed at preventing discrimination against persons with disabilities and enhancing the quality of services provided to them.

As the nation’s financial regulatory authority, the Central Bank consistently prioritizes ensuring the unhindered access of persons with disabilities—representing a socially vulnerable population group—to financial services.

To provide financial service consumers (consumers) residing in the regions—who may have disputes with supervised entities—an opportunity to submit their inquiries without having to visit the Central Bank’s HQ in Baku, and enhance consumer satisfaction, the Central Bank has ensured that consumer receptions are also held at its reserve centers located in the cities of Sumgayit and Yevlakh. Consumers may address their inquiries by visiting the relevant Central Bank regional offices at the following addresses – Sumgayit Reserve Center: 1 J. Jabbarli Street, 40th block, Sumgayit city and Yevlakh Reserve Center: 82 H. Aliyev Avenue, Yevlakh city.

A barcode is included in the new insurance certificate to enable citizens to contact the Central Bank in case of rights violations.

By Decision No. 60/4 of the Management Board of the Central Bank of the Republic of Azerbaijan dated 28 December 2022, the Requirements for the Form and Content of the Compulsory Insurance Certificate for Civil Liability of Motor Vehicle Owners were approved. The content of the compulsory insurance certificate for civil liability of motor vehicle owners now includes a barcode that directs the insured or the policyholder to the Central Bank’s website, allowing them to submit an online complaint if they believe their rights under the certificate have been violated.

The Central Bank of the Republic of Azerbaijan periodically holds meetings with entities under its supervision within the scope of its authority. These meetings aim to promote dialogue and strengthen cooperation to improve the quality of financial services provided to consumers. In December 2022, a series of such meetings took place. During the month, the Central Bank met with supervised entities, including credit institutions (banks and NBCIs) and insurance companies. The discussions focused on the year-end review, ways to further optimize and improve the services provided, and the next steps to be taken in the following period.

To enhance accessibility for consumers of financial services living in the regions who have grievances with supervised entities, and to increase consumer satisfaction, the Central Bank has made it possible for such consumers to submit their requests without needing to travel to the administrative headquarters in Baku. Consumer receptions are now conducted in the Central Bank’s regional offices located in Quba, Bilasuvar, and Ganja. Consumers may visit the respective offices — Quba Regional Office (219B Heydar Aliyev Ave., Quba), Bilasuvar Regional Office (2B Heydar Aliyev St., Bilasuvar), and Ganja Regional Office (204 Nizami Ave., Ganja) — to submit their inquiries and requests.

To enable consumers of financial services residing in the regions who have grievances with supervised entities to submit their requests without the need to visit the Central Bank’s administrative headquarters in Baku, and to further enhance consumer satisfaction, the Central Bank has also arranged for citizen receptions to be conducted at its reserve centers located in the cities of Sumgayit and Yevlakh. Consumers may submit their inquiries by visiting the respective offices: Sumgayit Reserve Center: 1 J. Jabbarli Street, 40th Block, Sumgayit City and Yevlakh Reserve Center: 82 Heydar Aliyev Avenue, Yevlakh City.

On 16 November 2022, a virtual meeting was held between the Central Bank of the Republic of Azerbaijan and the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan. The parties exchanged experiences on the development of consumer finance protection mechanisms and discussed prospects for continued cooperation in this field.

Within the framework of the Financial Sector Modernization Project II (FSMP2), the World Bank’s diagnostic mission on ‘Consumer Finance Protection‘ visited Baku. On 11 November 2022, a meeting was held at the Central Bank, during which the Bank presented its ongoing initiatives and additional measures implemented to strengthen consumer protection in financial services.

On November 2 and 4, 2022, the Central Bank held meetings with the Azerbaijan Banks Association (ABA), Azerbaijan Microfinance Association (AMFA), and Azerbaijan Insurers Association (ASA) to discuss joint cooperation on expanding access to financial services for persons with disabilities.

Following these discussions, the parties agreed to coordinate efforts aimed at ensuring unhindered access for people with disabilities to financial services, taking into account advanced global practices, as well as the recommendations and standards of international organizations.

To enhance consumer awareness and promote fair treatment by insurers in the field of compulsory motor insurance, the Central Bank decided to publicly disclose the Complaint Index, which is based on complaints received in this area.

The index will be published monthly and displayed on the Central Bank’s official website under the section ‘Consumer and Investor Rights’ — subsection ‘Complaint Index on Compulsory Motor Insurance’ — by the 10th of each month.

In line with international best practices in consumer protection within financial markets, the Central Bank has developed the Methodological Guidelines on Handling Consumer Complaints in Financial Institutions. The purpose of this document is to enhance the effectiveness of consumer protection mechanisms and to strengthen the timely and efficient resolution of disputes between consumers and financial institutions. The Guidelines were approved by the decision of the Management Board of the Central Bank of the Republic of Azerbaijan on 15 March 2022.

This document sets out the Central Bank’s methodological recommendations for banks, local branches of foreign banks, non-bank credit institutions, insurance companies, and investment firms on the procedures for handling consumer complaints.

The full text of the Methodological Guidelines is available at:
https://www.cbar.az/law-371/methodological-guideline-on-handling-of-consumer-appeals-in-financial-institutions

Work to improve the consumer protection framework in the financial services sector continues. Within the framework of technical assistance provided by the Asian Development Bank (ADB) under the project ‘Development of Non-Bank Financing and Alternative Financial Instruments,’ discussions were held at the Central Bank with relevant departments on consumer protection and financial literacy.

Additionally, meetings were organized with the State Service for Antimonopoly and Consumer Market Control, Azerbaijan Banks Association (ABA), Bank Ombudsman, Azerbaijan Microfinance Association (AMFA), and several credit institutions to exchange experience, share best practices, and review ongoing initiatives in this area.

Ensuring accessibility for consumers of financial services to obtain information and submit inquiries or complaints remains one of the Central Bank’s priorities. To enhance public awareness, the Central Bank has requested that ‘ASAN Service’ and ‘ASAN Communal’ centers — both in Baku and the regions — display information boards about the ‘966’ hotline in visible areas of offices providing banking and insurance services. These boards have now been installed, ensuring citizens are informed about how to contact the hotline for assistance.

Assessing the current state of consumer finance protection and using international experience to support its development are among the Central Bank’s strategic priorities. In this regard, the Bank of Italy and the Central Bank of the Republic of Azerbaijan conducted a joint experience exchange program aimed at strengthening the legal and regulatory framework for consumer protection and market conduct.

At the meeting held on 9 September 2022, discussions were held on the role of the financial ombudsman and alternative dispute resolution mechanisms available for resolving conflicts between consumers and credit institutions regarding banking and financial operations. The Central Bank takes ongoing measures since consumer finance protection is on Central Bank’s focus.

26 August 2022, Baku: The Central Bank of the Republic of Azerbaijan continues to implement comprehensive measures to protect the rights of financial service consumers and prevent their violation. To facilitate on-site review of appeals from both individuals and legal entities, a dedicated citizen reception service has been established at the Central Bank’s administrative building (27 Bulbul Avenue, Baku). Furthermore, a ‘966’ hotline operates continuously to handle verbal inquiries. To enhance efficiency and improve citizen satisfaction, a Queue Management System has been introduced in the reception area. This system ensures that citizens are directed to the appropriate service personnel, their inquiries are handled promptly, and relevant information is provided immediately.

In addition to on-site management, citizens can now obtain a queue ticket online before visiting the Central Bank. The digital service is available through the ‘Electronic Services Portal’ on the Central Bank’s official website or directly via https://randevu.e-cbar.az/home.

For any questions regarding online appointment scheduling, citizens may contact the ‘966’ Hotline.

The Central Bank will continue prioritizing the protection of financial service consumers and implementing further initiatives in this direction.

Under the Presidential Decree of 28 November 2019, ‘On Improving the Management of Regulation and Supervision in the Financial Services Market,’ the Central Bank of the Republic of Azerbaijan was entrusted with the powers of the supervisory authority for financial markets, including the protection of investors and consumers’ rights. As part of these responsibilities, the Central Bank held numerous outreach activities.

One such initiative was a virtual meeting organized on 22 February 2022, with several joint-stock companies operating in Neftchala District, supported by the Neftchala District Executive Authority.

The meeting focused on improving corporate governance in joint-stock companies, ensuring that issuers prepare annual reports in accordance with legal requirements, convene general meetings of shareholders, and operate in full compliance with legislation.

The Central Bank continues to conduct similar initiatives aimed at protecting shareholder rights and promoting transparent corporate governance.

To improve reporting standards among supervised entities and enhance citizen satisfaction, the Central Bank organized meetings with representatives of banks, NBCIs, insurance companies, and joint-stock companies.

During these meetings, guidance was provided on strengthening consumer protection practices, existing issues were discussed, and directions were set for addressing them. The Central Bank also listened to the supervised entities’ proposals for resolving sectoral challenges.

The Central Bank conducts in-person citizen receptions in a designated Reception Room at its headquarters (27 Bulbul Avenue, Baku).

To assess public impressions of the reception system, measure satisfaction levels, and evaluate the performance of the responsible department, QR codes have been placed on each reception desk. Citizens can scan these codes to answer short questions and provide feedback about their experience.

The Central Bank continuously prioritizes citizen appeals and works to improve the efficiency of their review. To accelerate the consideration of appeals related to banks undergoing liquidation, a meeting was held with the Deposit Insurance Fund (ADIF). The parties discussed ways to improve cooperation and expedite the review process in this area.

The Central Bank held its first meeting with a representative of the Asian Development Bank on 23 July 2021, to discuss international experience in protecting consumer rights and supporting the development of the financial sector. Work in this area continues, and a subsequent meeting was held to further advance cooperation and share expertise on implementing best practices in consumer protection.

To promote transparency in the capital market, organize meetings with issuers and minority shareholders, and expand public awareness, the Central Bank held a meeting on 2 March 2022, with the Small and Medium Business Development Agency (KOBIA).

During the meeting, the importance of engaging with joint-stock companies was emphasized. The parties discussed cooperation in protecting investor rights, ensuring the submission of annual reports by issuers as required by law, and improving information exchange between the Central Bank and joint-stock companies

Under the Presidential Decree of 28 November 2019, ‘On Improving the Management of Regulation and Supervision in the Financial Services Market,’ the Central Bank of the Republic of Azerbaijan was entrusted with the powers of the supervisory authority for financial markets, including the protection of investors and consumers’ rights. As part of these responsibilities, the Central Bank held numerous outreach activities.

As part of these activities, and with the support of the Shamkir District Executive Authority, the Central Bank held an online meeting on 5 April 2022, with several joint-stock companies operating in the district.

The meeting focused on improving corporate governance practices, ensuring the proper preparation of annual reports, convening shareholder meetings, and conducting company activities in compliance with legislation.

The Central Bank continues to organize similar meetings to safeguard shareholder rights and promote transparent, responsible corporate management.

To facilitate online submissions by citizens visiting the ‘Reception Room’ located at 27 Bulbul Avenue, a QR code board has been installed. Citizens approaching the Central Bank’s administrative building can now submit their requests related to the banking, insurance, or capital market sectors online via this QR code, in addition to traditional paper submissions.

In line with the preventive measures against the Coronavirus (COVID-19) infection and the temporary suspension of in-person receptions, the Central Bank has also introduced online citizen reception through the ‘Skype’ application (https://join.skype.com/invite/f1f827Sg9hJV).

To enhance the efficiency and responsiveness of the Central Bank’s communication with consumers, the ‘966’ hotline has been launched. Measures have been taken to increase public awareness about the hotline, enabling citizens to immediately contact the Central Bank regarding issues or inquiries encountered while using financial services. Accordingly, banks, NBCIs, and insurance companies operating across the country have been instructed to install visible information boards about the ‘966’ hotline in their branches and offices. Compliance with this requirement has been ensured.

To ensure proper queue management for citizens visiting the ‘Reception Room’ at 27 Bulbul Avenue without prior appointment, an electronic queue management system has been introduced. Through this system, visitors can obtain a queue number corresponding to their request in the banking, insurance, or capital market sectors.

To strengthen consumer protection in the financial services sector, employees of the Central Bank have participated in online seminars organized by the Central Bank of France and the German Federal Bank. During these seminars, representatives from various countries shared their experiences, discussed existing mechanisms for consumer protection, and presented initiatives aimed at improving financial literacy among the population.

A ‘WhatsApp’ service has been introduced to address situations where citizens do not receive response letters from the Central Bank or face difficulties in contacting supervised entities. This service facilitates prompt resolution of such issues.

To continue facilitating online communication during the COVID-19 pandemic, citizens can now participate in video receptions without prior appointment through Skype or WhatsApp. This service is available on official working days from 10:00 to 11:00 via the ‘Consumer Rights’ section of the Central Bank’s website.

Citizens unable to connect during the designated hours may schedule a video appointment by calling the ‘966’ hotline, submitting an online or written request, or sending a message to the WhatsApp number 055 966 1 966

Following the introduction of the ‘966’ hotline, the number of incoming calls to the Central Bank has significantly increased. To prevent potential dissatisfaction in cases where lines are busy, a callback system has been implemented. This system allows citizens who cannot reach the hotline to contact the Central Bank via WhatsApp and request a callback. The Central Bank promptly contacts applicants after receiving such requests

To enhance public awareness regarding consumer protection and complaint-handling procedures, the ‘Consumer Rights Protection’ section of the Central Bank’s official website has been expanded.

The section now includes information on the Bank’s legal authority and functions, the role and activities of the relevant department, statistics on consumer and investor complaints, applicable legislative acts, frequently asked questions with answers, and details about the ‘966’ hotline.

Based on the analysis of consumer complaints, the Central Bank continues to implement awareness-raising initiatives on issues requiring further public education. Staff of the Consumer Finance Protection Division have participated in various training programs, and educational video materials on multiple topics have been prepared and shared with the public.

To ensure that consumers can promptly contact the Central Bank regarding issues faced while using financial services, supervised entities (banks, insurance companies, and NBCIs) have been instructed to include information about the ‘966’ hotline in all insurance, credit, deposit, and other customer agreements. Compliance with this requirement has been monitored and ensured.

As part of efforts to encourage electronic communication with the Central Bank, instructional videos explaining the process of submitting online applications have been prepared and published in Azerbaijani, Russian, and English.

In certain cases, response letters prepared by the Central Bank cannot be delivered to the addresses indicated in citizens’ applications and are returned. To ensure delivery, the Central Bank contacts the applicants to obtain updated address information and re-sends the letters accordingly.

The Central Bank’s structural unit responsible for handling investor complaints aims to prevent violations of financial consumers’ and investors’ rights and ensure their restoration when infringed. On 8 January 2021, a joint online meeting was held with representatives of the National Depository Center to discuss the protection of minority shareholders’ rights, strengthening oversight of joint-stock companies, and enhancing transparency.

A ‘Proposals’ section has been launched on the official website of the Central Bank of the Republic of Azerbaijan to allow citizens and investors to submit proposals related to issues within the Bank’s authority on consumer and investor rights protection. Citizens and investors who encounter violations by entities supervised by the Central Bank or have other inquiries, applications, or complaints may visit the ‘Consumer and Investor Rights’ section of the Bank’s official website and submit their requests through the relevant headings.

On 23 July 2021, a meeting was held with a representative of the Asian Development Bank to discuss the current state of consumer protection in the financial services sector, review relevant legislation, and explore international best practices to support sectoral development.

From 1 to 3 February 2021, meetings were held with veterans and families of martyrs of the Second Karabakh War. During the meetings, their issues were discussed, possible relief measures were explored with banks, and some applications were referred to the ‘YAŞAT’ Foundation.

A meeting was held between the Central Bank of the Republic of Azerbaijan and Germany’s Federal Financial Supervisory Authority (BaFin). BaFin representatives provided an overview of Germany’s consumer finance protection framework and regulatory mechanisms. The Central Bank presented its own experience in consumer protection, including the handling of written and verbal complaints, citizen receptions, and hotline operations. The parties exchanged views on these practices.