Authorized Capital of FINCA Increases by Almost a Third
Total assets of non-bank credit organizations (FINCA) increased in January-June 2013 to 44 million or 11% reaching 445.49 million manat. The growth of this index for the 12 months totaled 80.72 million or 22.1%. The share of organizations financed by international humanitarian organizations, had 83.1% of the total value or 370.02 million manat.
According to the Central Bank, the authorized capital of operating on 1 July 2013 139 non-bank credit institutions reached 67.99 million manat, increasing for the first six months of 11.3%, and for the last year - by 31.8%.
Number of branches operating in the country since the beginning of FINCA has increased by 16 to 130. Most of all branches (32) are located in Aran economic region.
Compared with the end of 2012 the number of organizations funded by international humanitarian organizations has increased by 2 reached 30. They accounted for 90.7 percent of the available filialov.-15D--
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review