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
-
In recent months, an increase in the price of butter has been observed in Azerbaijan. Notably, this is the third price hike within a year. According to consumers, certain brands of butter that cost 19 manats per kilogram at the end of last year are now being sold for 24 manats, marking a nearly 30% increase.
-
Azerbaijan has signed an "Agreement on Project Implementation" with China’s BYD Company Limited (BYD) to establish a domestic production line for electric buses, officials announced.
-
Russia has reduced its greenhouse gas emissions by more than twofold from the 1990 baseline, Russian Prime Minister Mikhail Mishustin announced at the COP29 climate summit.
-
Georgian Prime Minister Irakli Kobakhidze announced that Georgia will present its updated Nationally Determined Contribution (NDC 3.0) by 2025, signaling the country’s renewed climate ambitions during his speech at the COP29 summit in Baku on Wednesday.
Leave a review