The State Securities Committee (SSC) has approved the "Rules for opening depository cash accounts of the investment fund, its management and money transfers." Although AR Law "On Investment Funds" is valid from November 2010, the country has no licensed investment fund (IF), intended to be a collective investment institutions.
According to the Ministry of Justice that promulgated the Regulation, the IFA is free to the right selection of the depositary. However, he is allowed to open in the country, only one cash account. These accounts can be opened in order to deposit money, the proceeds from the offering and the share of excise IF IF unit and works settlements with their assets. In this case, the proceeds from the offering, excise IF and participations in mutual IF can be placed only in the banks in the form of deposits or in short-term government bonds. - 08D-
Economics
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Croatian Prime Minister Andrej Plenković announced enhanced efforts by Croatia to protect the Adriatic Sea and advance renewable energy projects during his address at the COP29 summit in Baku on Wednesday.
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Italian Prime Minister Giorgia Meloni on Wednesday called for collective action to limit global warming to 1.5 degrees Celsius during her address at the COP29 summit in Baku, emphasizing the need for a united response to the climate crisis.
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Greek Prime Minister Kyriakos Mitsotakis on Wednesday urged European leaders to pursue a "smart green deal" at the COP29 summit in Baku, advocating for a balanced approach to the energy transition that takes into account both environmental and economic realities.
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Kuwait’s Crown Prince Sheikh Sabah Khaled Al Hamad Al Sabah affirmed the country’s commitment to environmental sustainability during a high-level meeting at the COP29 summit in Baku on Wednesday, emphasizing Kuwait’s adherence to international climate agreements, including the Kyoto Protocol and the Paris Agreement.
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