The purpose of the research - is to study the current economic legislation, to develop proposals to ensure the security of economic relations in this area based on intersectoral relationships of the financial and credit sphere, to determine the patterns of evolution of the rules governing the system of financial and credit relations in Azerbaijan.

The methodology of the research - consists of the dialectical method, general and specific scientific cognitive methods: analysis, synthesis, comparative law, historical law, a systematic approach, statistical and sociological analysis, a systematic method, etc.

The practical importance of the research - is that the findings, recommendations and provisions outlined in it can be used in future research on the study of other problems in the financial and credit environment, in the legalization of legal norms that are responsible for financial and credit relations.

The results of the research - is that, the following concept of the financial system is formulated: The financial system refers to all the government, individual financial institutions and the public, as well as the non-financial sector of the economy funds required for the implementation of social and economic needs. The state financial system reflects the methods and forms of the specific use of money in the economy.  The structure of the financial system includes the state budget, special extra-budgetary funds, local finance, finance of state corporations and its elements.

The originality and scientific novelty of the research - is that the article is one of the first in the Republic of Azerbaijan devoted to the regulation of financial and credit system relations. Here, the financial system in comparison with other economic relations is viewed as a single system, having a number of features, as well as economic and financial relations, which covers the whole country. The scientific novelty of the article is the scientific elaboration of the criteria for identifying economic offenses in the financial and credit sector and the subsystems of the state financial system, such as the state budget, extra-budgetary special funds and local financial sources.

Keywords: economy, financial system, credit system, banking system, budget, financial market.