JSC Non-bank Credit Organization Finoko plans to increase its financial stability by $ 750 000. This is the size of the bond issue registered in the State Securities Committee (SSC).
According to the regulator, it is planned to put 750 unsecured bonds with par value of $ 1 000 in circulation. The placement is planned in the mode of an open subscription.
Finoko providing loans to small businesses and consumers received a license to operate in September 2014.
On 3 June it registered a prospectus in the amount of 300,000 manat at SSC in order to create the starting share capital (30,000 shares with par value of 10 manat) for the private placement of shares. --17D-
Economics
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Azerbaijan’s consumer price index (CPI) for the period of January to August increased by 1.3% compared to the same period in 2023, marking a period of moderate inflation in the country. According to the State Statistics Committee, the overall CPI for the eight-month period reached 101.3%, with various sectors showing mixed inflationary pressures.
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Azerbaijan has witnessed a significant rise in the average nominal monthly wages of salaried workers, with an 8.3% increase recorded from January to July of this year compared to the same period in 2023. According to data released by the State Statistics Committee, the average nominal monthly salary reached 1,002.4 manats, as the country experiences both economic growth and sectoral shifts.
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The Chairman of the Central Bank of Azerbaijan (CBA), Taleh Kazimov, recently hosted a high-level delegation led by Elisabetta Falcetti, the Executive Director for Turkey and the Caucasus at the European Bank for Reconstruction and Development (EBRD). The meeting, held in Baku, focused on key initiatives to bolster the sustainable development of Azerbaijan’s financial sector and expand access to financing for the country’s real economy. Among the most pressing topics was the EBRD's support for Azerbaijan’s ongoing green transition.
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Recently, the prices of certain food items have increased in Azerbaijan. This is also reflected in the data released today, September 11, by the State Statistics Committee (SSC). It was noted that in August, compared to July, there were price increases in rice, beef, lamb, sausage products, butter, olive oil, and onions.
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