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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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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