Central Bank of Azerbaijan Signs Purchase Transaction with IBM

In October last year, OJSC Mugan Bank was declared bankrupt, with the Deposit Insurance Fund appointed as the bank's liquidator. Thousands of local and foreign depositors, including construction companies operating in liberated zones, had left hundreds of millions of manats in the bank. Reports indicate that Mugan Bank issued illegal guarantees and was poorly managed. The bank's leadership, much like those of Bank Standard, Texnikabank, and AtaBank, left nothing unscathed. However, none of the individuals responsible for Mugan Bank's collapse have been held accountable. Notably, Samir Valiyev, the son of the bank’s owner, former MP and Odlar Yurdu University founder Ahmed Valiyev, has since become a member of parliament, according to banking sector expert Akram Hasanov in a Facebook post.

USD 1,7 EUR 1,7978

‘Baku Stock Exchange’ (BSE) has announced operational indices for January-November 2024.

The National Deposit Centre (NDC) has, for the first time in Azerbaijan, put into operation an electronic system of remote holding of general meeting of shareholders, online voting of shareholders (E-vote). This is stated in the NDC's report.