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 Azerbaijani government has adopted new guidelines to facilitate employment for individuals with special social protection needs and those facing difficulties in securing jobs. The resolution, approved on December 29 by the Cabinet of Ministers, outlines targeted programs aimed at job creation through public-private collaboration.
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The Cabinet of Ministers of Azerbaijan has approved new regulations to facilitate targeted employment programs aimed at supporting individuals with special social protection needs and those facing employment challenges. The measures, under the State Employment Agency, seek to enhance job creation in priority economic sectors.
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The Cabinet of Ministers of Azerbaijan has announced key amendments to various regulatory acts to ensure compliance with the law adopted on May 24, 2024, aimed at updating the Tax Code, the Customs Code, and laws on state duties and licensing.
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The Azerbaijani Cabinet has implemented significant changes to energy regulations in line with new laws aimed at enhancing the country’s electrical infrastructure. A decree signed by Prime Minister Ali Asadov on December 29 introduces amendments to several prior governmental decisions and cancels previous regulations, including a key rule on electricity production and equipment operation limits.
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