JSC International Bank of Azerbaijan has issued today the annual report for 2015, according to which (https://goo.gl/Vducmm) CJSC Agrarkredit has a 27.26% stake in the bank.
The state represented by the Ministry of Finance controls 82.22% stake in IBA. The remaining 17.78% of the shares are distributed between 14 legal entities and 1,762 individuals.
In July 2015 by the decree of President Ilham Aliyev IBA distressed assets were transferred to the control of the non-bank credit organization Agrarkredit. We are talking about assets totaling 5 billion 628.9 million AZN, the bank's financial report says.
IBA was founded in 1992 and has several subsidiaries (insurance, leasing and processing companies, banks in Georgia and Russia, etc.). -08D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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