Assets of the Non-banking Credit Organization (NBCO) increased by six times due to times CJSC "Agrarkredit"
In Azerbaijan, by 1 January operated 228 branches of the NBCO, funded by international humanitarian organizations. According to the Central Bank of Azerbaijan, their total assets in the period were at the level 607 430 000 manat (+ 10.3% YoY). In general, the country has 240 branches FINCA with total assets grown at six times (3 billion 879.7 million AZN). Such high growth is due to the allocation of 3 billion manat by NBCO "Agrarkredit" to settle the problem of obligations of the International Bank of Azerbaijan, according to the presidential decree of 7 August 2015. In the register of the CBA by the beginning of the year were registered 157 non-bank credit institutions, including 109 credit unions, 47 organizations financed by international humanitarian organizations , and the mentioned Closed Joint Stock Company "Agrarkredit", where the state share is 100%. --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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