Shares of Credo Bank for a total of 2,000,000 manats were placed at Baku Stock Exchange.
Issue of 3,000 ordinary documentary registered shares with a nominal 10,000 manats passed state registration in October 2012. According to the exchange, all the shares were sold in two transactions (two investors). The underwriting services were provided by Chelsea Capital Ltd.
On today placed 92% (27.6 million manat) announced issue. According to the legislation issue is held in the case of placing her half.
Paid-in share capital of the bank, thus, reached 48.44 million manat. Credo Bank shareholders are 11 individuals and two entities. - 15B -
Economics
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The minimum wage in Azerbaijan, currently set at 345 manats, will be increased at the beginning of 2025 to meet the country’s international obligations. This was announced by economist and Member of Parliament Ali Mansimli during an interview with TV channel "24". According to him, the current minimum wage level does not meet the requirements of several international documents, which state that the minimum wage should be at least 60% of the average salary, which is 1000 manats. This means that the minimum wage in Azerbaijan should be 600 manats; however, it currently stands at only 34% of the average salary.
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The Cabinet of Ministers of Azerbaijan approved a series of amendments on September 25, to the laws regulating the circulation of medicinal products, as part of the implementation of the "Law on Amendments to the Law on Medicinal Products of the Republic of Azerbaijan" adopted on July 14, 2023. These amendments aim to align national legislation with international standards and strengthen the regulation of pharmaceutical product circulation in the country.
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The Ministry of Digital Development and Transport of Azerbaijan has approved a new regulation titled "Flight Operations Preparation Rule," aimed at enhancing the safety and efficiency of civil aviation activities. Decision number 3-27/3-7-16/2024 was adopted by the ministry’s collegium on September 12, 2024, in accordance with the law "On Aviation" dated December 22, 2023.
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The Ministry of Digital Development and Transport of the Republic of Azerbaijan approved a comprehensive set of airworthiness regulations aimed at ensuring the safety and reliability of the country’s civil aviation sector.
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