Approved by Board of the Central Bank of the Azerbaijan Republic of December 18, 2009 the Protocol No. 38

Rules of issue of special permission (license) to the national operator of mail service for rendering financial services and prudential regulation of its activities

1. General provisions

1.1. These rules are prepared according to the Laws of the Azerbaijan Republic "About the Central bank of the Azerbaijan Republic", "About mail" and other regulatory legal acts and establish rules of issue of mail service to the national operator (further - the national operator) special permission (license) for rendering financial services (further - the license), and to its branches and departments - permissions, and also prudential standard rates and requirements to activities of the national operator in the field of financial services.

1.2. The national operator, its branches and departments can be engaged only in those types of activity in the field of financial services which are provided in the licenses and permissions granted by the Central Bank. Permission to implementation of financial services can be issued to department of the national operator only in case of availability of permission to rendering financial services at branch under which it is effective.

1.3. Licenses and permissions to implementation of financial services are issued is termless. Licenses and permissions I become effective from the date of their issue.

1.4. Establishment of prudential standard rates and requirements to activities of the national operator aims to provide its safe and reliable activities in the field of financial services.

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