The commercial bank OJSC Azerbaycan Senaye Banki until the end of next year will increase the total capital level in conformity with the new regulations of the Central Bank.
As reported in the bank, at the general meeting the shareholders decided to raise the total capital to 50 million manat. As of August 1, the total capital of the bank amounted to 31.6 million manat.
According to the decision of the Central Bank of Azerbaijan on July 25 this year, the minimum requirements for total capital of existing banks, and registered capital of newly established banks increased to 50 million manat. The new standards will be effective from January 1, 2014.
The minimum requirement for the size of the total capital of banks has been 10 million manat since July 2007. -15D -
Economics
-
Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
-
U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
-
Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
-
Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
Leave a review