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
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review