Baku / 06.10.17 / Turan: Solving liquidity problems created an opportunity to lower loan interest, said Zakir Nuriyev, President of the Association of Banks of Azerbaijan, at the Fifth Fair of Investors in Baku.
He noted that microfinance organizations issue loans at 40% per annum, but due to the formation of liquid funds, these percentages can be reduced.
"Currently, the banking sector has a liquidity of 4 billion manat and therefore there is no need to raise funds from abroad. In the near future, the auction mechanism between banks will be involved and liquid funds will be distributed among the market participants, he said.
Z. Nuriyev noted that the banking sector had a task of raising funds before, but now the priority is to transfer these funds to the economy at favorable conditions. -71D-
Finance
-
The Unemployment Insurance Fund (UIF) under the Ministry of Labor and Social Protection of the Population does not provide information about its investment activities, the conclusion of the Chamber of Accounts on the draft budget law for the Fund for 2025. According to the document, the draft budget does not include any indicators related to the Fund's investments or income from such activities.
-
As of the end of 2023, investments of the State Social Protection Fund (SSPF) under the Ministry of Labor and Social Protection of the Population amounted to 2,515.3 million manats, the conclusion of the Chamber of Accounts on the draft budget law for the Fund for 2025.
-
In Azerbaijan, approximately 6.5 billion manats will be allocated from the state budget for 2025 to implement the "Social and Economic Development Strategy for 2022-2026", the conclusion of the Chamber of Accounts on the draft law "On the State Budget for 2025." According to the document, this amount represents a 17.2% increase compared to the approved forecast for 2024.
-
The Central Bank of Azerbaijan has reinstated the license for an insurance agent issued to an individual, Nabiyev Sabukhi Zakirovich, the regulator's official website reported. The announcement states that the decision was made on November 19 in accordance with the Law on Insurance Activity. The reason for the reinstatement is that the insurance broker has addressed the issues that led to the suspension of the license. Currently, there are 426 individuals and 57 legal entities holding insurance agent licenses in Azerbaijan.
Leave a review