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Baku/26.05.23/Turan: Since this month, the activities of the Baku branch of the National Bank of Iran ("Bank Melli Iran") have been restricted.
According to information from the Baku branch, the Central Bank of Azerbaijan (CBA) has banned all banking operations (accepting deposits, lending, etc.), except for withdrawing money from the account.
At the same time, the CBA is checking the activities of the Iranian bank. The regulatory body has not yet commented on the situation around the restriction of the activities of "Bank Melli Iran". Turan's attempts to get a comment from "Bank Melli Iran" yielded no results.
It is possible that the restrictions are related to the sanctions imposed by the United States and the European Union against Iran.-0
Finance
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The Unemployment Insurance Fund (UIF) under the Ministry of Labor and Social Protection of the Population does not provide information about its investment activities, the conclusion of the Chamber of Accounts on the draft budget law for the Fund for 2025. According to the document, the draft budget does not include any indicators related to the Fund's investments or income from such activities.
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As of the end of 2023, investments of the State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of the Population amounted to 2,515.3 million manats, the conclusion of the Chamber of Accounts on the draft budget law for the Fund for 2025.
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In Azerbaijan, approximately 6.5 billion manats will be allocated from the state budget for 2025 to implement the "Social and Economic Development Strategy for 2022-2026", the conclusion of the Chamber of Accounts on the draft law "On the State Budget for 2025." According to the document, this amount represents a 17.2% increase compared to the approved forecast for 2024.
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The Central Bank of Azerbaijan has reinstated the license for an insurance agent issued to an individual, Nabiyev Sabukhi Zakirovich, the regulator's official website reported. The announcement states that the decision was made on November 19 in accordance with the Law on Insurance Activity. The reason for the reinstatement is that the insurance broker has addressed the issues that led to the suspension of the license. Currently, there are 426 individuals and 57 legal entities holding insurance agent licenses in Azerbaijan.
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