Non-Banking Credit Organization LLC Finca Azerbaijan plans for this year, finally, that to get a banking license.
As the director of the company in Azerbaijan Manish Sana'a policy of the Central Bank of Azerbaijan on this issue did not allow us to do this, but the Company does not intend to delay the transformation of the bank for the next year and intensified in this direction.
Finca Azerbaijan was established in 1998. It is part of an international network of microfinance Finca International. The company provides loans for a period of 4 to 24 months. The loan amount varies from $ 50 to $ 50 000. Interest rate on loans varies between 36-45.6%. - 15B -
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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