The General Shareholders Meeting of the International Bank of Azerbaijan (main shareholder - the Ministry of Finance, Head of the Supervisory Board - Deputy Finance Minister Azer Bayramov) has decided to increase the authorized capital of the IBA.
According to the largest bank, strengthening will be more than three-quarters - 78% (up to 1 billion 141.3 million manat). This can be achieved at the expense of additional issue of shares for 500 million AZN.
The meeting also decided on changes in the number of procedures for commercial projects, as well as to strengthen the control, for which they made changes in the composition of the Audit Committee.
IBA has been working since 1992, and its authorized capital (641.3 million manats) includes the main share (51.07%) belonging to the government in the face of the Ministry of Finance, while the remaining shares belong to private owners of the securities. --17D-
Economics
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Natural gas supplies from Azerbaijan to Bulgaria have been temporarily suspended due to technical reasons from January 6, 2025, Turan reports. Bulgarian «Bulgargaz» Energy Company has announced the suspension, noting that supplies are expected to resume on January 11, 2025.
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In 2024, Azerbaijan welcomed 3.523 million passengers from 38 countries via air transportation, reflecting a significant 32.1% increase compared to the previous year. According to the State Tourism Agency, this also marks an expansion in reach, with visitors arriving from three additional countries, an 8.5% rise year-on-year.
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As Azerbaijan sets an ambitious trajectory for economic growth in 2025, the country is poised to expand its investment portfolio and develop innovative financial instruments. These efforts aim to create a favorable environment for both domestic and international investors, while steering the economy away from oil dependency toward diversified and sustainable growth.
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In 2025, Azerbaijan will celebrate a series of public holidays and mourning events combining cultural traditions, religious rituals and national commemorations. The calendar, approved by the Cabinet of Ministers, defines significant dates that will provide citizens with the opportunity to honor their heritage, reflect on history, and relax with family and friends.
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