JSC International Bank of Azerbaijan (IBA) has issued new interest rates on deposits of individuals.
Deposits can be placed for a period from 1 to 10 years. While the Financial Market Control House (FMCH) recommends that annual payments on dollar deposits should be at 3%, IBA in order to attract foreign currency, pays 3.25%, beginning from two years, and 5.75% on 10-year deposits.
The maximum payout on manat deposits is 11.75% (10-year), and the minimum is 8% (for 1 year).
JSC IBA with a capital of 1 billion 141.3 million AZN has operated under license of the Central Bank of Azerbaijan since 1992. Its main shareholder (51.07%) is the Government of Azerbaijan in the Finance Ministry's face, while the remaining 48.93% is held by numerous minority shareholders. --17D-
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- Social
- 3 May 2016 13:25
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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