Swelling the ranks of the Association of Risk Professionals
The rows of the corporate members of the Association of Risk Professionals of Azerbaijan (ARPA) have increased by one financial institution.
As reported by the Manager for Public Relations of ARPA Nigar Jamshidi, Bank Technique has become the 20th corporate member.
ARPA was founded in May 2009.
Its mission is improving knowledge of financial institutions and companies on risk management.
It cooperates with the International Finance Corporation (IFC), CBA and GARP. - 17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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