The Board of Directors of the Financial Market Supervision Authority (FIMSA) decided to close the Inshaatchilar branch of Yapi Kredi Bank Azerbaijan in the Yasamal district and the Bilasuvar branch of Mugan Bank.
Both branches are closed on the basis of appeals of the banks themselves. Yapi Kredi Bank Azerbaijan explained the reason for the closure of the branch with the intentions of optimizing expenses.
Mugan Bank, in turn, explained the closure with the unprofitability of the branch, a decrease in the client base, and a small number of corporate clients in this area. ----71D
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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