Central Bank imposes administrative fine on SF Azerbaijan Official

The Central Bank of Azerbaijan (CBA) has imposed an administrative fine on an official from SF Azerbaijan non-bank credit organization LLC, Azernews reports.

The fine follows a recent audit by the CBA, which uncovered violations of Article 22.1 of the Law "On Non-Bank Credit Institutions" and Clause 3.3 of the "Rule of Providing Information about Borrowers of Credit Institutions to the Centralized Credit Register."

In response to these breaches, the official has been fined 2,000 manats, as stipulated under Article 440.1 of the Code of Administrative Offenses.