The general meeting of shareholders of OJSC Capital Bank on May 27 decided on changes in the composition of the Supervisory Board and the Audit Committee.
The President of the Supervisory Board Mir Jamal Pashayev resigned from his post in connection with the work in Pasha Holding, where he is the Executive Director. The new Chairman of the Supervisory Board of OJSC Capital Bank is Jalal Gasimov. Gasimov was recently appointed Chairman of the Board of Pasha Bank.
There were also changes in the composition of the Audit Committee. Araz Agayev as Chairman of the Audit Committee was replaced by Parvin Ahadov. 08B
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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