There is a growing awareness of the Financial Monitoring Service CBA
Only in April 2013, the Financial Monitoring Service under the Central Bank of Azerbaijan (CBA) has received information from 25.7 thousand subjects. Overall, since the beginning of the year, according to the CBA, there was received 85.215 million (+9.2% per year) items of information (http://www.fiu.az/images/documents/az/statistika/statistika_2013.pdf) at current including suspicious transactions.
Financial Monitoring Service under the CBA established February 23, 2009 as a central body to combat the financing of terrorism and money laundering "dirty money." Its functions include collecting specific financial information, analysis and administration of the relevant authorities. She is the owner of a common information base, regulatory control and controller, as well as the national coordinator of anti-dirty money in the international arena. - 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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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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