The Board of the Central Bank made a change in the "rules of law, the calculation and storage of required reserves." The new version of the document defines the rules governing the rules, calculation and storage of required reserves for commercial banks and local branches of foreign financial and credit institutions.
Under current rules, currently the reserve requirement on all deposits, as well as in terms of the calculation base is 0.5%, the change is intended to increase this figure doubled - up to 1%. This commitment to the non-resident financial sector and payments to international financial institutions will be brought to zero. --17D-
Economics
-
Azerbaijan’s Milli Majlis ratified the second amendment to the agreement on the joint development of the Azeri-Chirag-Gunashli (ACG) oil and gas block during its plenary session on Wednesday. The bill was submitted to parliament as a legislative initiative by President Ilham Aliyev.
-
The 104th meeting of the Commonwealth of Independent States (CIS) Economic Council was held in the Russian capital, with representatives from member states discussing enhanced economic collaboration and key regional initiatives. Azerbaijan was represented by First Deputy Prime Minister Yagub Eyyubov.
-
Azerbaijan’s Information and Communication Technologies Agency (IKTA) reported significant improvements in the quality of internet and telecommunications services in the first half of 2024, driven by a comprehensive assessment framework and enhanced regulatory measures.
-
In 2024, Azerbaijan will double its gas supply to Bulgaria, which not only uses this gas for its own needs but also partially sends it to its Balkan Gas Hub and, by agreement with SOCAR, organizes the transit of various volumes to its neighbors.
Leave a review