The joint JSC Azer-Turk Bank brought the level of authorized capital up to 50 million manat in accordance with the requirements of the Central Bank of Azerbaijan.
According to the report of the financial structure, the former limit through the placement of additional shares rose by 13.1% (5,776,341 AZN). The price of each of the securities is 1 manat.
As previously reported Turan, the composition of the bank's shareholders changed, too. The share of the State Committee on Property Issues decreased by 10% (from 85% to 75%), Turkish Ziraat Bank - from 14% to 12.37%, Ziraat Bank International - increased from 1% to 1.08%. In addition, the new shareholders are: reinsurance company AzReTekrarsigorta (6.55% of the share) and specialized life insurance company QalaHayatSigorta (5%).
Azer-Turk Bank was established in May 1995. --17D-
Economics
-
A detailed review of legislative norms and e-government services across various business environment domains has been prepared and published by the working group of the Business Environment and International Ratings Commission, focusing on electricity network connections.
-
The draft law "On Amendments to the Tax Code," adopted in its third reading, provides for tax exemptions on the sale of locally manufactured buses in Azerbaijan and the supply of spare parts for these vehicles. This was reported by the Tax Service under the Ministry of Economy, explaining that the government's initiative aims to support business development in the country by reducing the tax burden. The exemption will come into effect on January 1, 2025, and will remain valid for eight years.
-
On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
Leave a review