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Baku/10.03.23/Turan: For more than a month now, Azerbaijan has been taxing annual interest income paid by local banks and local branches of foreign banks on individual deposits.
The tax is up to 1/10th of a percent of savings.
Of the 25 banks operating in Azerbaijan, only 1 - AFBBank - has decided to temporarily pay the tax itself instead of depositors. The bank has announced a campaign called "We Pay Tax on Your Savings". According to the campaign, the tax on interest for the first year on deposits placed before May 1 will be paid by the bank and not by the depositor.
Note that other 24 banks have not taken any steps in this direction. -0-
Finance
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Placement of interest-bearing, unsecured, undocumented, registered bonds of non-banking credit organisation ‘International’ (IOC) with code AZ2017021026 / Az2019021024 / Az2016021027 ISIN ,nominal value of AZN 750,б00 and 24-month circulation term, is held today at ‘Baku Stock Exchange’ (BSE). This is reported by the BSE.
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In January-September 2024 Azerbaijan paid out AZN 998,846 under ‘Green Card’ international insurance system. This was reported by the 'Mandatory Insurance Bureau' (MIB).
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The Central Bank of Azerbaijan has fined officials of non-banking credit organisations 'MJ Financial Services', 'Para' and 'Azpul'. This is reported by the CBA.
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Bank Respublika Secures Green Loan from the Dutch Development Bank Baku, November 19, 2024. During the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), Bank Respublika, one of the largest commercial banks in the country, and the Dutch Development Bank (FMO) signed a significant loan agreement to finance green projects in Azerbaijan.
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