Baku Stock Exchange finished placing the last issue of AFB Bank stocks totaling 10 million manat.
According to the exchange, all of the shares were sold in two transactions (two investors) carried out at intervals of one day.
Thus, the capital reached 52.3 million, exceeding the new requirements for the minimum level of capital of 50 million manat, which will come into force on 1 January 2015.
The main stake (99.48 % of the equity) of the bank is concentrated in the hands of LLC Gilan (belongs to the family of the Minister of Emergency Situations of Azerbaijan). -15B -
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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