Assets of Ziraat Bank Azerbaijan in the third quarter of 2016 increased by 3.8% (4 million 327.240 thousand manat) as compared to the second quarter, amounting to 117 million 305.340 thousand manat.
The share of foreign currency assets was 55 million 619.010 thousand manat.
The bank's liabilities during the reported period increased by 2 million 259.301 thousand manat (4%) and amounted to 57 million 709.011 thousand manat (the share of foreign currency - 45 million 835.790 thousand manat).
The bank's capital in the third quarter amounted to 59 million 596.329 thousand manat (an increase of 2 million 067.949 thousand manat, or 3.5%). -----71D
Economics
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
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SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has signed a series of agreements at the COP29 summit aimed at bolstering the development of renewable energy sources, enhancing energy efficiency, and promoting sustainable growth in Azerbaijan.
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The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
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