The functions of the Central Bank of Azerbaijan have been enhanced. Yesterday the Azerbaijani President Ilham Aliyev approved amendments to the Law "On the Central Bank", adopted on 28 September by the Milli Majlis.
According to the amendments, the text of which is published in the official press, the Central Bank will provide loans to Azerbaijan Deposit Insurance Fund (ADIF) under the state guarantee in the event of a shortage of money to grant depositors affected in case of bankruptcy of banks.
Recall, as of December 1, the Central Bank issued ADIF a total guaranteed loan of 560 million manat for compensation to depositors of 5 banks whose licenses were revoked in July and September. Now the procedure is enshrined in law. --17D-
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