Financial Market Supervisory Authority of Azerbaijan (FIMSA) prevented attempts to raise funds illegally and provide services to banks in the occupied territories of Azerbaijan, Trend reports referring to FIMSA.

"FIMSA has revealed the facts of servicing payment cards operating under brands of international payment systems. In addition, website of the so-called Ministry of Finance of the separatist "Nagorno-Karabakh Republic" (NKR), established in the occupied territories of Azerbaijan, was raising money. This violates both the sovereignty of Azerbaijan, international legal norms, and the requirements of international card systems," FIMSA stated.

According to the FIMSA statement, these facts mean a violation of the sovereignty and territorial integrity of Azerbaijan, the norms of international law, the creation of favorable conditions for money laundering and financing of terrorism, as well as non-compliance with the requirements established by international payment systems.

In this regard, FIMSA specialists held a meeting with representatives of Visa Inc. and MasterCard Worldwide and brought to their attention the need for an immediate cessation of the provision of services in the occupied territories using payment cards with the brands of these organizations.

As a result of the taken measures and joint activities, collection of material assistance through payment cards of international brands as well as the acceptance of these payment cards by ATM networks of some banks in the occupied territories were stopped on the website of the so-called Ministry of Finance of the separatist 'NKR'.

As part of the settlement and control in payment systems, FIMSA closely monitors the implementation of measures, as well as the activities of payment cards of international brands offered by banks operating in the occupied territories of Azerbaijan.

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• Azerbaijan
• Financial Market Supervisory Authority of Azerbaijan (FIMSA)