President Ilham Aliyev has issued a decree on application of the Law on Non-Bank Credit Organizations endorsed by his decree from 25 December 2009.
The decree commissions the Cabinet Ministers to submit for two-month term the proposals for making amendments to legislation in connection with enforcement of the above-listed law, relevant changes in standard acts and provision of law application.
The law expands rights of NBCOs but at the same time toughens requirements for them. The latter in particular relates to introduction of prudential norms and supervision.
Fineko/abc.az