From June 3 JSC Bank Standard starts to repay small deposits (up to 1,000 manats) to the population. For other payments, according to the court decision, the moratorium will continue for 1 month, Turan was told in the press service of the Financial Markets Control House (FMCH).
By decision of the FMCH Board of Directors on May 2, from May 3 CJSC Bank Standard received a temporary administrator for a three-month period. The reason for this was the result of the FMCH test that showed lack of the bank’s resources to solve its financial problems.
The temporary administrator is also involved in gathering the loans issued by JSC Bank Standard. ---08D
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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