Etibar Aliyev was returned to the post of chairman of the Supervisory Board of Bank Technique. This information was confirmed in the bank, which stated that will official announcement will be made. The bank also confirmed the departure of Rovshan Ismayilov as head of the Board of the Bank Technique. Three years ago, a group of officers of the Bank Technique was arrested. Etibar Aliyev who was dismissed from his post as head of the supervisory board also spent same time in custody.
Then the bank wascalled "Texnikabank". The bank was renamed after the change of the management. The bank was secretly transferred under the control of Jahangir Hajiyev , the former head of the International Bank.
In recent days, the media write that JSC Bank Technique was actually captured by raiders, and behind it was Hajiyev and his matchmaker, now former head of the Ministry of National Security Eldar Mahmudov.
According to the information on the website of the bank, his shares are held by: "Beaufort Investissements SA" - 78.4421%, and individuals - 21.5579% .- 06D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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