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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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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.
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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.
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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.
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