JSC Zaminbank complies with the requirements of the Central Bank
JSC Zaminbank has officially completed the order of the Central Bank to bring the authorized capital to 50 million manat.
Turan was told by an official of this bank that the Ministry of Taxes has recorded an increase in the level of opposition to financial risks by 10.6% - up to 52,181,800 manat.
Increase in the share capital was carried out by placing an additional issue of shares totaling 5 million manat in September 2014. Now (since 24 September), the equity capital of the JSC has reached 68 million manat (+ 36% against January 1, 2014). --17D-
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