For violating the laws against the legalization of property obtained by criminal means and the financing of terrorism – a fine of 20 thousand manats
For violating the laws against the legalization of property obtained by criminal means and the financing of terrorism – a fine of 20 thousand manats
The Central Bank of Azerbaijan (CBA) has taken significant steps to ensure compliance with laws on combating illegal financing by imposing fines on two non-bank credit institutions, Finca Azerbaijan and PSG Finance, for violations of financial legislation. This action underscores the Central Bank's continued commitment to combating money laundering and terrorist financing in the country.
Finca Azerbaijan was found guilty of violating laws aimed at preventing the legalization of criminally obtained property and the financing of terrorism. A comprehensive audit conducted by the Central Bank of Azerbaijan revealed numerous violations, as a result of which the Nasimi court imposed a fine of 20,000 manats. In addition, a high-ranking employee of the organization was personally fined 2,000 manats.
On the other hand, PSG Finance faced tougher sanctions for similar violations, and the Khatai court imposed a fine of 100,000 manats.
Economics
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In Azerbaijan, there has been an observed increase in the price of flour. In May, a 50-kilogram sack of flour cost 25-26 manats, but now it has risen to 29 manats. This increase in the price of flour is also reflected in the data from the State Statistics Committee (SSC).
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Azerbaijan and Israel have engaged in discussions to advance cooperation in the field of green energy, Azerbaijan's Energy Minister Parviz Shahbazov announced on the social network "X." During the meeting with Israeli Minister of Regional Cooperation David Amsalem, both sides reviewed ongoing cooperation in the hydrocarbon sector, discussed renewable energy projects currently being implemented in Azerbaijan, and explored prospects for enhancing bilateral energy ties.
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The Milli Majlis of the Republic of Azerbaijan has introduced significant amendments to the nation’s food safety law, aiming to enhance regulation over the production and importation of alcoholic beverages, particularly vodka. The amendments, ratified by President Ilham Aliyev, are intended to ensure compliance with stringent safety and economic criteria, reflecting the government's commitment to maintaining public health standards and fiscal accountability.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved amendments to the list of specialized medical institutions authorized to perform donor organ transplants. The changes, guided by the eighth paragraph of Article 119 of the Constitution of Azerbaijan, were announced in resolutions No. 337 and No. 338, signed by Prime Minister Ali Asadov.
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