The Council to ensure the financial stability led by the Prime Minister of Azerbaijan Artur Rasizadeh intends to make a decision on institutional governance of derived troubled assets of financial and credit institutions.
Commenting on the situation, the head of the Financial Markets Supervisory House Board of Directors Rufat Aslanli said this initiative is based on the proposals to change the legislation in order to regulate these issues.
The point is to make effective measures for the rehabilitation and restructuring of the banking system, resulting in problem assets separated from the healthy assets.
"The regulator is against the forced union of banks and insurance companies. Before the first wave of devaluation of the manat the share of loans in foreign currency amounted to 47%. After the December drawdown their nominal amount in manat has doubled, which creates problems with the implementation of the bank's liabilities in dollars and euros. After deciding these issues will soften,” he said. --17D-
Economics
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Turkish companies YDA and ASFAT plan to build a shipyard near Kazakhstan's port of Kuryk to address the country's domestic fleet shortage, Kazakhstan's Minister of Transport Marat Karabaev announced on Monday during a parliamentary session. The project underscores Kazakhstan's ambitions to strengthen its maritime capabilities and logistics infrastructure.
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Kazakhstan's Minister of Transport, Marat Karabayev, unveiled the country’s bold roadmap for transforming itself into a premier transport and logistics hub in Eurasia. Speaking in parliament on Monday, Karabayev detailed strategies to capture a share of the massive $1 trillion annual freight flows between the East-West and North-South corridors.
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The ASCO-owned ferry "Shahdag," freshly refurbished, has resumed operations on the Azerbaijan-Kazakhstan route, aiming to alleviate severe truck congestion at ports on both sides of the Caspian Sea.
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But Putin Says It's "Virtually Impossible" Due to Zelensky's Position Slovak Prime Minister Robert Fico visited Moscow on Sunday to discuss energy issues, becoming the third EU country leader to hold talks with Vladimir Putin since Russia's 2022 invasion of Ukraine. Prior visits include Austrian Chancellor Karl Nehammer in April 2022 and Hungarian Prime Minister Viktor Orbán in July 2024. Slovakia is also a NATO member.
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