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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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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