On February 13 the Cabinet of Ministers approved the Rules for the development and adoption of normative acts on supervision of financial markets." The Chamber, which has the status of public legal entity, was established by the state a year ago and still has not had the possibility of adopting regulations.
An FMSH normative act is a document that reflects the mandatory rules of conduct limited range of subjects. These are: credit institutions, insurance companies, investment funds, joint stock companies, and other entities that are issuers of securities.
The normative act is approved by the FMSH Board of Directors. The document shall be promulgated in the State Register of legal acts.
The normative act cannot establish a measure of responsibility for its non-enforcement. ----08D
Economics
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Russia and Iran have agreed on a gas pipeline route passing through Azerbaijan, according to Russia’s Energy Minister Sergey Tsivilyov. The Russian minister stated that the parties are in the final stage of negotiations, and the volumes have already been determined. According to Tsivilyov, Iran’s agreement with Russia’s Gazprom for gas supply via Azerbaijan is currently estimated at over 2 billion cubic meters annually. However, future supplies could increase to 55 billion cubic meters per year.
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On January 20 during the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan engaged in a strategic dialogue with Nick Studer, CEO of Oliver Wyman Group.
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During the World Economic Forum's Annual Meeting in Davos, President Ilham Aliyev of Azerbaijan met with Jared Cohen, President of Global Affairs at The Goldman Sachs Group, Inc. The meeting underscored the ongoing collaboration between Goldman Sachs and Azerbaijan's financial institutions, notably the Central Bank of Azerbaijan and the State Oil Fund.
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At the World Economic Forum in Davos, Azerbaijan's Minister of Economy, Mikayil Jabbarov, participated in the session titled "Leaders’ Circle: Financing the Energy Transition – A New Horizon." Jabbarov emphasized discussions on existing opportunities and major challenges in achieving successful energy transformation, underscoring the critical importance of financing the energy transition.
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