Plenum of the Constitutional Court of Azerbaijan considered the question at what rate banks must return citizens the bank loans obtained in dollars. Consideration was initiated by Goychay District Court and the Ombudsman. They asked the Constitutional Court to give the interpretation of Articles 439.1, 439.2 and 439.7 of the Civil Code, as they are in conflict.
Article 439.1. provides that a financial liability must be expressed in manats. If one of the parties is a foreign person or entity, the parties may determine the monetary obligation in foreign currency.
Article 439.2. states that the monetary obligation in foreign currency payable in Azerbaijan is repaid in manats, except when stipulated payment in foreign currency. The translation is performed at the exchange rate at the time of payment.
Article 439.7. said that if before the due date currency exchange rate increased or decreased, or changed the currency, payment is made at the rate corresponding to the time of occurrence of the obligation.
If the currency rates chnages, exchange relations must be at the rate which existed between the monetary units on the day of the changes in exchange rates. (17)
In the discussions participated representatives of Goychay Court, the Ombudsman, the Parliament, and the Central Bank. Decision of the Plenum will be made public soon.
On February 21 the Central Bank carried out the devaluation of the manat, as a result the national currency depreciated by 34% against foreign currencies. According to unofficial information, citizens that received loans in dollars, should pay banks AZN 1.2 billion, what angered investors. -03D-
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During the 31st session of the OSCE Council of Foreign Ministers held in Malta on December 5-6, no meeting occurred between the foreign ministers of Azerbaijan and Armenia, Jeyhun Bayramov and Ararat Mirzoyan.
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On Saturday, the weather in Baku and the Absheron Peninsula will be cloudy with occasional rain. The northwest wind will shift to a southeast direction. Humidity will be 70-80%. At night, temperatures will range from +6 to +8°C, and during the day, from +8 to +11°C.
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On December 10, International Human Rights Day will be observed. Ahead of this day, Azerbaijani human rights defender Rufat Safarov has been arrested. On December 4, the Binagadi District Court imposed a four-month pretrial detention order against him. The official charges include fraud, hooliganism, and infliction of minor injuries, but Safarov denies these accusations, linking his arrest to his human rights activities.
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On Friday, rain is expected in the capital and on the Absheron Peninsula, with heavy rain in the evening. The wind will be north-western. The air temperature at night will be +5 to +7°C, and during the day, it will range from +8 to +11°C. Humidity will be 80-85%. Across the country, rain is expected in the evening, with heavy precipitation in the central, northern, and southern regions. The wind will be from the west.
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