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
-
Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
-
The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
Leave a review