CBA developed ‘Rules on Sustainable Capital Requirements for Investment Company’
In the ‘National Action Plan for Strengthening the Anti-Corruption Fight for 2022-2026’, the Central Bank of Azerbaijan (CBA) has released a report on the implementation of the 2023 work plan for the implementation of appropriate measures.
The document said that the organisation has developed ‘Rules on Sustainable Capital Requirements for Investment Company’.
The rules are designed to strengthen transparency in the private sector, improve capital adequacy requirements in market, credit and operational risks of investment company activities in line with international practices. Finalization work on the project is currently underway.
Finance
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As of the end of this year, the Central Bank of Azerbaijan (CBA) decided to reduce the number of territorial departments by 2 times at the end of this year. This is reported on the website of the structure.
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A regular meeting of the Accounting Chamber has been held under chairmanship of the AC Chairman Vugar Gulmamedov.This was reported by the Chamber.
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The Baku Stock Exchange (BSE) has completed the auction on placement of ordinary, non-documented registered shares of ‘Geoengineering’ JSC (provides geological engineering services) in the amount of AZN 90, 000. This is reported by the BSE.
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As of the end of September 2024, credit unions in Azerbaijan had a balance sheet capital of AZN 9.4 million. This is stated in the credit union review published by the Central Bank of Azerbaijan.
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