In Azerbaijan, a legal entity of public law has become greater. This became known after the approval of the head of state changes in the law of Azerbaijan Republic "On the Central Bank of Azerbaijan".
CBA is not a state body and the fund, whose powers are limited to the activities of the organization and provision of interbank and other licensed centralized payment systems, as well as support the stability of the banking system, with the participation in the formation of monetary and exchange rate policy as one of the players.
According to the parliamentary amendments on February 23 and approved by the president on the eve of the country, the Central Bank is the lender of last resort. That is, the House oversight over financial markets may turn to him for a loan to other banks for a period of up to six months in order to maintain the solvency of banks and their liquidity.
In addition, the CBA can not issue a license for banking activities. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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