International Summit Future of Banking conducted with sponsorship from PASHA Bank
In Paris ended the 4th Summit Future of Banking, organized by a division of The Economist - The Economist Conferences - at the general sponsorship of one of the largest banks in Azerbaijan - PASHA Bank.
As in past events, the summit was attended by representatives of leading banks, financial regulators, and government officials. The speakers of the summit were such famous personalities as French Finance Minister Pierre Moscovici, European Commissioner for Internal Market and Services, Michel Barnier, CEO of the Central Bank of Azerbaijan Rashad Orujov, Chairman Farid Akhundov PASHA Bank, Vice President of Garanti Bank Ebru Edin, Bloomberg LP Chairman Peter Grier and other famous personalities.
The main themes of the event was to discuss issues related to the further future of the banking sector on a global scale, the application of new standards, such as requirements of Basel III, the prospects of doing business in developing countries and other up-to-date topics.
PASHA Bank is a leading corporate bank in Azerbaijan. Founded in 2007, the Bank provides a wide range of corporate banking services, including credit, market operations of the securities, asset management and treasury services. In PASHA Bank, presented by the head office and four branch offices, working 207 people. As part of "Europe Banking Awards 2011" was declared the "Best Investment Bank of Azerbaijan."
PASHA Bank is part of PASHA Group - a major investment holding company in Azerbaijan, which are widespread in sectors such as insurance, construction, building materials, tourism and other business areas. Capital Bank, one of the largest banks in the retail market of Azerbaijan, also belongs to the group of companies PASHA. -15D -
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review