A draft law on Venture Financing in Azerbaijan has been prepared and submitted to the government.
This was announced by Taleh Kazimov, Chairman of the Central Bank of Azerbaijan (CBA), at a meeting with economists and experts.
According to the information, the draft law is already at the approval stage.
The meeting also discussed the regulation of digital banking, cryptocurrency and venture market, the status of the draft laws on Virtual Assets and on Venture Financing, security in the banking sector, fraud with bank cards, regulation of obtaining online credit, restrictions on data access for foreign citizens working in the banking sector, etc.
It should be noted that in 2022, the Caucasus Ventures venture fund was established in Azerbaijan with the participation of the Innovation and Digital Development Agency, the PASHA Holding Group of Companies and individual investors. The authorized capital of the fund is 11.3 million manats.
In addition, in 2024, the venture funds "SABAH.fund" with a capital of 25 million US dollars and "INMerge Ventures" with a capital of 4 million US dollars were established.
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