In the first six months of 2016 the number of Mugan Bank employees fell from 908 to 824.
The bank during the reporting period did not close any of its branches.
The bank's authorized capital amounts to AZN 65 million. In December, the general shareholders' meeting decided to increase the bank's authorized capital by 10 million manat. After completion of the issue the bank's authorized capital will amount to AZN 75 million.
The bank's shareholders are four individuals - Elmir Magbet Oglu Mehdiyev (63.5%), who is also the head of the bank's supervisory board, Magbet Rahim Oglu Mehdiyev (13.1%), Vefa Ahmed Gyzy Valiyeva (12.05%), and Farida Jahandar Gyzy Mehdiyeva (11.34%). 71D
Economics
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The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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