The aggregate capital of four of the 43 banks in Azerbaijan by the end of September 2012 did not meet the minimum requirement of 10 million manat.
According to the Central Bank of Azerbaijan (CBA), the capital of the bank is one with the month of June is less than 3.5 million manat, even one it is within 3.5-5 million manat, and two banks - 5.10 million manats. The total share of the latter two groups of banks in total capitalization sector is 0.2% and 0.7%.
The number of banks with a total capital of over 10 million manat in September remained unchanged at the level of 39-year. Their share in the total capital reached 99.1%.
The minimum requirement for the size of the total capital of banks in July 2007 is 10 million manat. According to the recent decision of CBA from 1 January 2014, the figure will be 50 million manat. - 15B -
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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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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