Emil Mustafayev has been appointed the Acting Chairman of the International Bank of Azerbaijan. Since 2012 he was the first deputy head of the International Bank. This is the decision of the general meeting of shareholders of IBA on April 2, according to the press release from the bank.
The office of the head of the largest bank of Azerbaijan has been vacant since March 18, after the resignation of Jahangir Hajiyev for health reasons.
Yesterday unofficial information came that Farid Akhundov, who heads Pasha Bank, has been appointed to this office. However, official confirmation of this information has not yet been received.
The International Bank of Azerbaijan was established in January 1992.
The main shareholder is the Azerbaijani government (50.2%), while 49.8% is owned by individuals and legal entities. -06D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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