Azerbaijan’s Financial Market Supervisory Authority (FIMSA) has registered the additional issuance of shares of AtaBank OJSC in the total amount of 20 million manats, FIMSA said in a message on March 10. One million shares have been issued at a par value of 20 manats each. The shares will be placed via closed subscription. AtaBank…
Alim Guliyev has been re-elected the first deputy chairman of the Central Bank of Azerbaijan (CBA) under a decision made at a plenary session of the Parliament on March 7. Vadim Khubanov and Aftandil Babayev have also been re-elected deputies of the CBA chairman. Alim Guliyev and Vadim Khubanov have held their positions since 1996.…
Mission of the International Monetary Fund (IMF), which is now in Baku, discussed the current situation in the banking sector with leading Azerbaijani banks, head of the Azerbaijan Banks Association (ABA) Zakir Nuriyev reported. The sides discussed the decisions made by the regulator – Azerbaijan’s Financial Market Supervisory Authority – on stabilization of the situation…
Currency reserves of the Central Bank of Azerbaijan (CBA) increased by $42.1 million (0.97%) to $4,369.3 million in February as compared to January, the CBA said in a message on March 1. CBA’s reserves increased by 8.5% in February as compared to the same month of 2016. Currency reserves of the CBA decreased by $1,042.3…
The World Bank (WB) maintains interest in the creation of a Development Bank in Azerbaijan, Angela Prigozhina, the WB senior financial sector specialist, declared. “We do not abandon this idea – there are a huge number of other state financial institutions, including funds and agencies that are engaged in lending to the economy and support…
The Central Bank of Azerbaijan (CBA) raised 47.7 million mantas at a deposit auction, the CBA said. The CBA was ready to receive 150 million manats for deposit, however, the demand was less than supply. The weighted average interest rate on deposit transactions at the auction was 14.87%. The CBA started holding deposit auctions in…
Azerbaijan Airlines (AZAL) stopped its flights on the Baku-Ganja route on January 9, the company’s press reported. The press service said it was economically inefficient to carry out these flights. The Baku-Ganja flights were carried out daily using Embraer aircraft. Ticket prices started from 30 manats. (Trend/Business World Magazine)