The Central Bank of Azerbaijan (CBA) has changed the procedure of issue, public placement and circulation of investment securities of international organisations of which our country is a member. The institution approved this rule on 18 October 2023.
According to the new decision signed by Central Bank of Azerbaijan chairman Taleh Kazimov, from now on only the maximum amount will be reflected in the avenues of shares and bonds owned by international organisations. Circulation term, face value and number of securities shall not be indicated. In addition, the requirement to indicate in the prospectus the temporary current account opened for the payment of the value of securities of international organisations, as well as the name and address of the clearing organisation, has been abolished.
Another innovation is that if the redemption price of securities is not equal to the sale price determined at issuance, the procedure for its calculation must be reflected in the prospectus.
Finance
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In 2024, AZN 716.8 million were allocated from Azerbaijan's reserve funds. This was announced by the Ministry of Finance. According to the information, AZN 715.3 million of these were financed on the basis of commissioned documents submitted by the relevant structures. In particular, according to the orders of President Ilham Aliyev, AZN 244.9 million were financed out of AZN 245.2 million allocated from the reserve fund of the head of state.
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The Accounting Chamber held an event of external state financial control in Baku metro. This was reported by the Chamber.
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In order to further strengthen partnership relations with Azerbaijan, the board of directors of the World Bank group has approved a 'New Country Partnership Framework for Azerbaijan' for 2025-2029.
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Accounting Chamber carried out external state financial control in the Agency of Social Services under the Ministry of Labor and Social Security of Nakhchivan AR. This was reported by the Chamber.
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