Baku Administrative Economic Court №1 officially recognized the bankruptcy of «Evrobank», announcing the beginning of the procedure , and appointed a liquidator - OOO «Azerbaijan International Consulting Company».
The report of this authorized structure reads that the , Evrobank did not fulfill the requirements of the Central Bank imposed a minimum level of total capital of $50 million manat. Last May, the leadership of the now ex-credit organizations was given instruction on the market capitalization, and gave a time to address the shortcomings in the work, but the Evrobank failed to fulfill them. That is why the Central Bank finally decided to cancel the license of the bank.
The JSC «Evrobank» (reorganized Azinvestbank), operated from December 1992, had one branch, 11 million manat authorized capital and 40 million manat of loan portfolio; it worked primarily with corporate clients. --17D—
Economics
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Azerbaijan’s rice imports have surged as domestic production struggles to meet growing demand, underscoring the country’s reliance on foreign suppliers. Despite government initiatives to boost output, local production remains stagnant, with only 10,000 tons expected in the 2024-2025 season, while imports reached 55,961 tons between January and October 2024.
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Azerbaijan and Pakistan have signaled a growing commitment to deepen energy cooperation, with a focus on renewable energy initiatives, as Azerbaijani Energy Minister Parviz Shahbazov hosted a delegation led by Pakistani Federal Minister Abdul Alim Khan in Baku on January 30.
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Oil from Kazakhstan's largest field, Kashagan, has begun flowing into the Baku-Tbilisi-Ceyhan (BTC) pipeline. According to information from SOCAR, the first batch of this oil was received at the Sangachal terminal on January 27 and will be transported via BTC to the port of Ceyhan.
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Azerbaijan is accelerating the implementation of its socio-economic development strategy, focusing on digital transformation and strengthening cybersecurity. The government is allocating resources to human capital development, prioritizing the training of cybersecurity professionals, said Farid Osmanov, Chairman of the Board of the Innovation and Digital Development Agency, on January 30 during the fourth “Graduation Day” of the Azerbaijan Cybersecurity Center (AKM).
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