Hafka returns to the Bank of Azerbaijan
The President of Baghlan Group of Azerbaijan Hafiz Mammadov, known as Hafka, has returned to the management of the Bank of Azerbaijan.
The move is aimed at attracting investors to further recovery of the bank. The source said in this structure that the Supervisory Board of the bank has already determined the agenda and approval of the candidate appointed. Recall the last part of the bank's management was approved at the extraordinary shareholders' meeting of JSC Bank of Azerbaijan in May 2014. Then, instead of Mammadov, Mehman Ismayilov was elected as Chairman of the Supervisory Board, and the Board also included Javad Javadov and Araz Aliyev. As Acting Chairman of the Board was elected Magomedali Aslan and two men named Farid Orujov became his deputies.
As the chairman of the Central Bank Elman Rustamov said in April, this bank has "temporary problems" due to liquidity. Until now, financial constraints do not allow this structure to make full use license because it does not have permission to take deposits.
JSC Bank of Azerbaijan has started trading under the name Rabbatbank on December 1, 1993. In 1998 it became Ish Bankasi Azerbaycan. In 2004 the bank became a public corporation.
The authorized capital is 50 million manat and the total capital is 47.7 million manat.
The bank owners are family members of Hafiz Mammadov. The shareholders of the Bank of Azerbaijan are his sons Kanan Mammadov (43.63%) and Sanan Mammadov (43.63%), his brother Mubariz Mammadov (12.07%) and NEM Holding (0.67%). --17D-
Economics
-
The Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
-
The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
-
As a member of the International Renewable Energy Agency (IRENA) Council, Azerbaijan participated in the 28th meeting of this Council in Abu Dhabi (UAE).
-
Azerbaijan’s imports of animal and vegetable fats and oils climbed 23.9% by weight and 16.2% by value from January to September 2024, official data revealed. Despite the uptick in volume, the import cost of these products saw a decrease compared to the same period last year, with the cost per ton of vegetable oil falling by 6.1% to $1,199.6 in 2024, down from $1,278.6 in 2023.
Leave a review