The local banking system has provided additional liquidity of assets for 100 million manat. This was made possible by reducing the reserve requirements on deposits by Central Bank from 2% to 0.5%, the decision about which was made in late February against the background of the devaluation of the national currency.
According to the report of the main financial regulator, the Central Bank "holds the key" to problems that may be encountered by banks, and, if necessary, it is ready to assist them.
Recall, the Central Bank devalued the manat on February 21, after which it fell against the dollar by 33.45% - to 1.05 manat / $ 1 against 0.7862 manat / $ 1 on February 20. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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