Baku / 19.04.17 / Turan: Changes will be made in the "On Currency Regulation", the relevant draft law is ready, Turan was told in the parliament. According to the changes, in addition to banks, local branches of foreign banks and post offices, resident legal entities and individuals who have received the appropriate license will be able to exchange money. The locations of the functioning of the exchange points will be coordinated with the Chamber for the Supervision of Financial Markets.
To ensure stability of manat the Central Bank will have the right to intervene in the foreign exchange market, set a margin between the rate of sale and purchase, as well as the upper limit of the exchange rate.
The license for currency exchange activities will be issued by the Financial Market Supervisory Authority (currently the Financial Market Supervision Chamber.) The currency exchange offices were closed in January 2016, a month after the second devaluation of the manat. -71D-
Finance
-
From 15 January the State Oil Company (SOCAR) will issue ‘Green Bonds’.This is reported by SOCAR.
-
On January 10, President Ilham Aliyev signed an order to dismiss Finance Minister Samir Sharifov. He had held this position since 2006.
-
The Central Bank of Azerbaijan (CBA) has changed the ‘Procedure for purchase and sale of foreign currency between the Central Bank and banks’, which it approved on 15 November 2022.
-
In 2024, the economic growth in Azerbaijan made up 4.6%; it is expected that in 2025-2026 this index will make up an average of 3%.This is stated in the UN report ‘World economic situation and prospects 2025’.
Leave a review