In order to evaluate the assets of Bank Standard, which is being liquidated, Azerbaijan Deposit Insurance Fund (ADIF) has attracted the local KPMG office, the Fund reported.
KPMG has been invited to ensure transparency in the evaluation of Bank Standard’s assets.
Bank Standard was declared bankrupt on October 4, 2016. The liquidator of the bank is the Deposit Insurance Fund.
KPMG Azerbaijan is a member of KPMG Europe LLP (KPMG ELLP), which covers the practical advice of the audit services, taxes and laws of the CIS countries, Germany, England, Switzerland, Holland, Spain, Belgium, Turkey, Norway, Luxembourg and Saudi Arabia. ---D71
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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