Remainder of the profit of the Central Bank will be added to the state budget

One of the issues discussed at today's meeting of the spring session of the Milli Majlis, was the law "On the Central Bank of Azerbaijan", which amended. Changes touched also the problems with the lack of equity of the capital of the CBA. Now the loss by the end of the year due to the revaluation of assets and liabilities in foreign currency and gold on the balance of the main financial regulator of the country will be covered by its own capital reserves. That is,  if the assets are lower than  the sum of its liabilities, the resulting lack of capital will be repaid after one year due to the financial state of the securities issued.

Under the new rules, after the formation of reserve capital and confirmation of the annual financial statement audit the balance of realized gains and the Central Bank will be transferred to the state budget.

Capital of the CBA consists of its share capital (50 billion manat) and capital reserves (not smaller volume.)  Reserves are formed by contributions from the profits for the fiscal year. The minimum level of capital reserves is 15% of the national currency in circulation. --17D-