Within the framework of current supervisory measures conducted by the Central Bank of Azerbaijan, administrative actions have been taken against two non-bank credit organizations.
“Elchi” reports this citing the Central Bank. According to the information, due to violations of the requirements of the legislation on combating the legalization of criminally obtained property and the financing of terrorism, the non-bank credit organization “Embafinans” CJSC and its official, as well as an official of “BOKT Caspian Invest” LLC, have been held administratively liable.
By the decision of the Yasamal District Court of Baku City, in accordance with articles 598.1.1, 598.1.2, and 598.1.6 of the Code of Administrative Offenses, “Embafinans” CJSC was fined 20 thousand manats, and its official was fined 4 thousand manats.
By the decision of the Narimanov District Court of Baku City, in accordance with article 598.1.2 of the Code of Administrative Offenses, a fine of 2 thousand manats was imposed on an official of “BOKT Caspian Invest” LLC.
It should be noted that 86% of the shares of “Embafinans” CJSC belong to Elşad Abbasov, and 14% belong to Tamara Polyakova. The founders of “Caspian Invest” non-bank credit organization are Nurlan Şərifov and İbrahim Salmanov, and each of them owns a 50% stake in the organization.