The probability of obtaining a "red card" by 3-4 banks is very high. This is due to the low volume of the deposit portfolio, the economist Samir Aliyev said.
According to him, even the efforts made by banks to improve the health and solve financial difficulties will not save them from the expected danger. "Processes for the recovery are conducted in a non-transparent form and the decision to close the banks is accepted on subjective criteria," the expert said.
Samir Aliyev noted that AZN is gradually losing ground and dollar loans are a kind of "time bomb." Therefore, the capitalization of banks can only temporarily help them keep the position, but it does not consider them from imminent collapse, experts predict.
"The decision of the Financial Markets Control House (FMCH) on the elimination of licenses of four banks is mainly preventive in nature. FMCH priority is to reduce the number of banks. Therefore, the remaining banks should think about the merger, "concluded Samir Aliyev.
Licenses of 12 banks have been revoked over the past 2 years. Today in Azerbaijan there are 33 banks. --08D
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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