LLC Yapi Kredi Invest announced termination of its activities today. Borrowers of this former brokerage company can pay their debts within two months.
Yapi Kredi Invest was founded in July 2007 and had a license for broker and dealer activities in the securities market. Since January 2016, in connection with the entry into force of the law of Azerbaijan Republic ‘On Securities Market’, only companies that have received an investment company’s license from the Financial Market Supervision House can operate in the market. There are six companies of the sort in Azerbaijan.
The founder of Yapi Kredi Invest is Yapi Kredi Bank Azerbaijan (100% subsidiary of the bank Yapi Kredi, Turkey). The authorized capital of the company amounts to 110 thousand manat. The company is a shareholder of Baku Stock Exchange: it owns 300 shares of the stock exchange in denomination of 200 manat each. ----08B
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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