The aggregate capital of four of the 43 banks in Azerbaijan on the basis of July 2012 did not meet the minimum requirement of 10 million manat.
According to the Central Bank of Azerbaijan (CBA), the capital of one bank is less than 3.5 million manat, one bank has it within 3.5-5 million manat, and two banks have from 5 to 10 million manat. The total share of the latter two groups of banks in total capitalization of the sector is 0.2% and 0.8%.
The number of banks with a total capital of over 10 million manat fell by 1 to 39 in July. Their share in the total capital was equal to 99%.
The minimum requirement for the size of the total capital of banks has been 10 million manat since July 2007. According to the recent decision of CBA, the figure will be 50 million manat from 1 January 2014. - 15B -
Economics
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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