Baku: The Central Bank of Azerbaijan (CBA) has issued a warning to citizens regarding the use of foreign investment platforms that lack proper licensing within the country, APA-Economics reports, citing the Central Bank.

According to Azeri-Press News Agency, the CBA's monitoring efforts have revealed that certain foreign investment platforms are being marketed in Azerbaijan through various channels, including internet resources, social media, training programs, and seminars. These platforms are actively attracting residents of Azerbaijan despite not having the required local authorization.

The Central Bank highlighted that a license from a foreign regulatory authority does not permit these platforms to offer or promote investment services in Azerbaijan. The country's legislation mandates that investment services can only be provided with a license from the Central Bank of Azerbaijan.

The CBA advised citizens to verify the licensing status of any investment service provider before engaging with them. To safeguard investors, the Central Bank urged citizens to only trust their investments to entities that are officially licensed by the CBA as investment companies.

For those seeking further information, a list of licensed investment companies can be accessed on the Central Bank's official website.