In late July, a general meeting of shareholders of the joint Azerbaijani-Turkish JSC Azer-Turk Bank will be held.
According to the report of the financial structure, they will discuss issues related to the future activities of the bank. Discussions will be related to the increase in the state share in the authorized capital - so that from 1 January 2015 the share in the assets structure of the State Committee for Property Affairs will be not 75% as previously, but 87.37% - through the purchase of securities previously owned by the Turkish Ziraat Bank. The bank left the shareholders of Azer-Turk Bank, as it obtained a license of CBA to conduct independent financial activities.
JSC Azer-Turk Bank was created in May 1995. Its main shareholder is the State Committee for Property Affairs with 87.37%, the reinsurance company AzReTekrarsigorta has 6.55%, the local life insurance company Qala Hayat Sigorta has 5% and Ziraat Bank International has 1.08%. --17D-
Economics
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
-
At the COP29 event titled "Climate Finance Landscape in the South Caucasus and Central Asia" held on November 14, Roland Price, Regional Director of the World Bank for the South Caucasus, highlighted the substantial economic and environmental damage faced by the countries of the South Caucasus, which she estimated at around $100 million annually.
-
SOCAR Green, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has signed a series of agreements at the COP29 summit aimed at bolstering the development of renewable energy sources, enhancing energy efficiency, and promoting sustainable growth in Azerbaijan.
-
The Islamic Development Bank (IsDB) is stepping up its efforts to mobilize Islamic banking resources in the fight against climate change, President of the IDB Muhammad Sulaiman Al Jasser said on Thursday during a roundtable at COP29.
Leave a review