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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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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