Azerbaijan's NBCOs may carry out money transfers and currency exchange
The Central Bank of Azerbaijan (CBA) plans to amend the legislation on non-bank credit organisations (NBCOs).
This was stated by Hayam Ismailov, head of section of the Credit Organisations Supervision Department, at the Azerbaijan Microfinance Conference on ‘Innovative Solutions for Sustainable Microfinance’ in Baku.
“Opportunities of money transfers and currency exchange without opening an account in NBCOs are being considered,” he noted.
Finance
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Rising prices for electricity, natural gas and heat in Azerbaijan since the beginning of this year may have a significant impact on annual inflation at the level of 0.51 %.
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The Central Bank of Azerbaijan (CBA) forecasts that an average price of a barrel of oil in the world market in 2025 will be $77.3, and the price of 1000 cubic metres of natural gas - $349.
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The Central Bank of Azerbaijan (CBA) forecasts that by the end of 2025 the country's economic growth will be 3.3 %, including the production of gross domestic product (GDP) in the non-oil and gas sector to grow by 5.2 %.
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According to updated forecasts of the Central Bank of Azerbaijan (CBA), annual inflation is expected to be about 5.5 % in 2025 and about 3.8 % in 2026.This is reported on the CBA's website.
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