By the order of the temporary administrator of JSC Bank Standard Khalid Ahadov was appointed General Director of the bank. Ahadov will serve as Chairman of the bank, a source in the press service of the Financial Markets Control House told Turan.
The report notes that before August 3 the Chairman of Bank Standard will form the bank’s management bodies. From August 3 the bank will fully restore operations in compliance with the business strategy.
Ahadov has been working in the banking sector since 2002 and has held senior positions in the Bank of Baku and Uni Bank.
Recall that by the decision of FMCH, state-controlled Azer-Turk Bank will be in charge of improving Bank Standard. -----08D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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