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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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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