Binance crypto exchange cuts employees

Cryptocurrency exchange Binance has begun to reduce its staff because of the difficult situation in which it has been for several months.

Sharifov: It is wrong to allocate all oil revenues for expenses

The increase in assets of the State Oil Fund is a positive factor.

Complete liquidation of debt of state institutions is impossible

Most of the accounts receivable relate to advance payments

A new NBCO created in Azerbaijan with investments of AZN 300,000

On May 22, 2023, the State Tax Service registered NBCO NovaCredit LLC (TIN:1308342131).

Birbank cardholders earned AZN 5.2 million cashback in May

Central Bank currency rates for 2 June

Azerbaijani manat rate has fallen to the euro and to the Russian ruble, grown to the Turkish lira, while is stable to the US dollar.

Central Bank’s currency reserves decreased

In May 2023, the foreign exchange reserves of the Central Bank of Azerbaijan decreased by $13.5 million.

VTB (Azerbaijan) extended the loan campaign

Mastercard manager for Azerbaijan appointed

Emil Zeynalov, who headed Mastercard's representative office in Azerbaijan, will officially start his new position as Mastercard's manager for Azerbaijan.

Demand at currency auction decreased by 37%

Following the auction on June 1, the weighted average exchange rate of the manat was formed at the level of 1.7000 AZN/USD.

Central Bank currency rates for 1 June

Azerbaijani manat rate has grown to the euro, to the Turkish lira and to the Russian ruble, while is stable to the US dollar.

New appointments at Kapital Bank

Garib Akhadov has been appointed the new director of Kapital Bank’s Business Loan Underwriting Department.

Foreigners’ bank card transactions for Jan-Apr

Foreigners carried out bank card transactions in Azerbaijan for AZN 677.9 million for Jan-Apr 2023.

Expert: In Azerbaijan, the State provides support to large banks

Many large banks in Azerbaijan have government deposits. If the State withdraws its deposits from these banks, the financial situation there will not be the best.

AccessBank disclosed its audit report for 2022

State Budget transfers relating to national services increase - A new document

Azerbaijan State Budget transfers for 2023 in connection with national services will increase by AZN 316.25 million or by 8.3% from AZN 3.808 bn to AZN 4.124 bn.

Presidential Reserve Fund reduced

Azerbaijan State Budget transfers to reserve funds for 2023 are reduced by AZN 190.5 million or 31.2% from AZN 610 million to AZN 419.5 million.

Central Bank currency rates for 31 May

Azerbaijani manat rate has grown to the euro, to the Turkish lira and to the Russian ruble, while is stable to the US dollar.

Loans to entrepreneurs in Nakhchivan observed growth

In the first 4 months of 2023, the volume of loans given to entrepreneurs in the Nakhchivan Autonomous Republic increased 2.2-fold.

SOFAZ budget revenues increase by 82%

State Oil Fund’s budget revenues included in the consolidated budget of Azerbaijan are expected to amount to AZN 16.337 bn.

Subsidies to Nakhchivan increased