As the chairman of the Board of Directors of the Financial Market Control House (FMCH) Rufat Aslanly told the media, in the case of problems with financial liquidity of banks, the government will help them, as in the case of Bank Standard.
This is due to the program to repay bad loans and improve the quality of bank assets developed by FMCH and aimed at the effectiveness of the new lending model.
According to him, the exception to the ban on the issuance of consumer loans in foreign currency is the expiry of a previously obtained credit in dollars or euros or loan restructuring. In addition, the right to obtain a loan in foreign currency belongs to clients whose income or deposit account in the bank is not open in manats, while the customer uses that account as collateral."
In addition, FMCH introduced a number of prudential requirements for restructuring of loans, so that the client's monthly expenses on the loan do not exceed half of the income plus one more condition - the remainder of the income must meet the conditions of a living wage.
Recall that all advisory decisions made by FMCH are prohibitive, and are aimed at preventing the reduction of foreign exchange reserves and the outflow of finance abroad. According to statistics, foreign exchange reserves of the Central Bank of Azerbaijan as of 30 April were $ 4 billion 120.6 million, having decreased during the year by $ 4 billion 267.3 million, or more than twice. --17D-
Economics
-
Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
-
The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
-
Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
-
In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
Leave a review