The block of IBA shares was purchased for AZN 0.30.
In July this year, the general meeting of IBA shareholders decided to distribute AZN 156.6 million in the form of dividends at the expense of profits for 2022.
Add that physical and legal entities own 3.4% of shares of the International Bank of Azerbaijan OJSC. The remaining 96.6% of shares are owned by the state represented by the Ministry of Finance (92.56%), the State Property Service under the Ministry of Economy (3.81%) and "Aqrarkredit" CJSC (0.23%).
The bank's authorised capital is AZN 1 billion 225.6 million. -08B-
Economics
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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.
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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.
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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.
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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.
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