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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On November 19, Finance Minister Samir Sharifov stated in the Milli Majlis (National Assembly) that fines issued to citizens in Azerbaijan sometimes do not reach the state budget. According to him, a new software system has been developed to address this issue and ensure proper oversight of fine payments.
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‘Baku Stock Exchange' (BSE) has started its work since 19 November to take part in the annual meeting of the World Federation of Exchanges (WFE), which will end on 22 November.
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There is additional potential in Azerbaijan associated with budget receipts from leasing of state property.
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In 2025, AZN 1,162.6 million is forecasted to be allocated from the state budget to 56 public legal entities in Azerbaijan.
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