The Board of Directors of the Financial Markets Supervision House canceled the licenses of 12 credit unions. The list includes Credit Union Arzu, Credit Union Azerinvest, Credit Union South, Credit Union Ceyhun, Credit Union Compass, Credit Union F.A.S., Credit Union Hakkari, Credit Union's Credo Invest, Credit Union Real, Credit Union Terekeme, Credit Union Tural and Credit Union Yardimli deprived of the license.
The reason for this step is the failure of these credit unions to comply with the reporting rules and to hold external audit for 2015. ----71D
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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