Azerbaijan International Bank Board decided to suspend the sponsorship of the football club "Inter", the bank said. The bank explained reason for such a decision by the desire to optimize and restructure business of the IBA.
Chairman of the Board Khalid Ahadov in connection with the decision stated that the restriction of activities in the field of sport will enable the bank to save its costs and attract existing opportunities
to the core business - banking, and more effectively implement measures for the rehabilitation of the bank.
Legal and technical issues in relation to this will be solved gradually. On the basis of the appeal of the IBA the AFFA will provide the necessary assistance for the participation of the club "Inter" in the championship until the end of the current season.
Interbank will be the founder of the club and on the basis of a management agreement, the club will be passed to the professional team. The club has been announced open for sponsorship. Persons wishing to become a sponsor of the club "Inter" may refer in this regard to the AFFA.
In 2015 Interbank club spent 4.418.000 manats, and in 2014 to 7.600.000 manats. -71D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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