The Central Bank of Azerbaijan, according to the new law on its activities, will no longer be the controller and regulator of the financial market. The bank will be the lender of last resort in the event of deterioration of the applicants’ liquidity or fulfillment of obligations to creditors.
Today the Milli Majlis will mainly pass in the first reading amendments to several legislative acts, such as the Tax Code, the laws On the Securities Market, On Banks, On Non-bank Credit Organizations, On Credit Unions, On Insurance Activity, On Investment Funds, and so on. --17D-
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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