Head of IBA Press Service Changed
The head of the press service of JSC International Bank of Azerbaijan (IBA) Rauf Agayev resigned. In this position, he worked for more than 14 years. Instead, Yadigar Jafarov was appointed today.
Prior to this appointment Jafarov served as Head of Public Relations in Azer-Turk Bank, so the initiative was made by the current head of the IBA Elmar Mammadov, who also came from the joint Azerbaijani-Turkish Bank.
His professional career began in journalism in 1998. Until 2006 he worked in the newspapers Azerbaijan and Sharq. From 2006 to 2010 he served as the press secretary of the State Service of Real Estate Register under the State Property Committee.
Jafarov holds a PhD in philology.
IBA was founded in January 1992. The main shareholder is the Ministry of Finance, which owns 51.07% of the shares, and other shares belong to private individuals and legal entities. --17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review