The rules of the Central Bank of Azerbaijan loans to banks came into force on May 19.
According to the order number 25/1 signed by the Chairman of CBA Elman Rustamov, one-time loans or in the form of credit lines are divided into 3 categories for the purpose of refinancing for the period from 30 days to 1 year or more, loans of last resort, and special credits.
Loans are granted through auctions - directly (without a fixed interest rate) or without declaring the amount of lending.
Refinancing can be secured either by stocks and bonds issued by banks or by foreign currency on their own accounts. Loans for a period more than a year are given by the decision of the Board of CBA.
The so-called loan of last resort shall be issued on the basis of request from FMCH for not more than six months, by the decision of the CBA Board for a maximum of 2 working days, and it must be provided, except shares and bonds, or foreign currency on the accounts of banks, by state guarantees , real estate and gold.
Guarantee in the form of state guarantees and state securities must be at least 100% of the principal amount of the loan and interest thereon.
Guarantee in the form of bills, gold and individual securities must be at least 110%, and in the form of real estate - 150%. --17D-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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