Dollarization of bank deposits in Azerbaijan is obvious - the volume of manat accounts from January to August decreased by 2.07 times to 2 billion 138.7 million manats. By the way, while on January 1 they accounted for 60% of the total mass, today its share is at 28.1%.
In this, the population's deposits in foreign currency rose almost twofold by 1 August - by 97.6% to $ 5 billion 466.4 million manats, or 71.9% of all bank savings.
The total volume of the bank "nest egg" is $ 7 billion 605.1 million manats (5.8% YTD). Recall, the official figures of CBA do not take into account the February devaluation of the national currency, which resulted in manats dipped by 34% - that is, deposits really became 30% less.
By August 1, the total volume of deposits in local banks was 18 billion 213.6 million manats (+ 17.9% to 1 January). --17D-
Economics
-
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.
-
Climate change poses a serious risk to global economic and financial stability, said Bo Li, Deputy Managing Director of the International Monetary Fund (IMF), at the event titled "Global Financial System: Scaling Up Climate Action Financing" held as part of COP29.
-
Azerbaijan's banking sector has unveiled a comprehensive set of initiatives aimed at bolstering sustainable development, according to Zakir Nuriyev, President of the Azerbaijan Banks Association (ABA). Nuriyev outlined the plans during the second panel of the "Global Financial System: Expanding Climate Finance" event.
-
Azerbaijan remains steadfast in its commitment to developing a sustainable green economy, according to Taleh Kazimov, Chairman of the Central Bank of Azerbaijan (CBA). Speaking at the COP29 event on Thursday titled “Global Financial System: Scaling Up Finance for Climate Action,” Kazimov emphasized the country's strategic focus on green development as part of its broader socio-economic agenda for 2030.
Leave a review