JSC International Bank of Azerbaijan (IBA) has stepped reshuffle. Togrul Safarov was appointed Head of the Surakhani branch instead of Elton Hidayatov, which is the 13th appointment in a row.
After Elmar Mammadov was elected IBA Chairman last July, following the July 15 decree of the President of Azerbaijan on recuperation of IBA assets and preparation for the privatization of the state share in it, the heads of 5 capital and 6 regional offices were changed, as well as the heads of the overseas entities IBA-Moscow and IBA-Georgia.
Recall from the end of 2014, Elmar Mammadov held the position of Chairman of the Board of Azer-Turk Bank, from where he joined the IBA.
OJSC International Bank of Azerbaijan has been valid from 10 January 1992 on the basis of the license from the Central Bank of Azerbaijan. The main share (51.07%) belongs to the Ministry of Finance of Azerbaijan, while other securities are distributed among other physical and legal entities. --17D-
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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