Central Bank currency rates for 10 March

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

VTB (Azerbaijan) lowered interest rates on cash loans

Banks reduced demand at a foreign exchange auction

The Central Bank of Azerbaijan (CBA) held a currency auction with the participation of the State Oil Fund.

Rosfinmonitoring suggests limiting transfers without opening an account

Central Bank currency rates for 7 March

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

Saudi Arabia to place $5 bn in Central Bank of Turkiye

Riyadh and Ankara have signed an agreement under which the Saudi Development Fund will place a deposit of $5 bn in the Central Bank of Turkiye, ABC.AZ reports, referring to TV channel A Haber.

Good news for bank borrowers

The debtor will not be charged more than 5% per annum of the amount on overdue loans. The Civil Code envisages amendments to it.

Zolotaya Korona halts transfers from cards of some Russian banks

Zolotaya Korona no longer services payments from cards of sub-sanctioned banks. Problems with transactions arose, in particular, among the clients of Tinkoff, Sberbank and Alfa-Bank.

Statement: Why is tax interest withheld from savings withheld from income of citizens?

A 1% tax has been levied on deposits in banks, which is ambiguously perceived by the public in Azerbaijan.

Central Bank currency rates for 6 March

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

Banks with reduced interest income

CBA registered 33 issue prospectuses for 2022

Banks with annual interest income of over AZN 300 million

Three out of the 25 banks operating in Azerbaijan had interest income of more than AZN 300 million last year.

The famous bank to cut employees

American financial services company Citigroup will lay off hundreds of employees from its investment bank division.

Birbank cardholders earned AZN 4.4 million cashback in February

Central Bank currency rates for 3 March

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

Legislation needs amending for introduction of Islamic banking in Azerbaijan

In order to introduce Islamic banking in Azerbaijan, first of all, it is necessary to make certain changes to the legislation.

SOFAZ increased currency sales at auctions in February

In February 2023, the State Oil Fund of Azerbaijan sold $356.6 million worth of foreign currencies at currency auctions.

9% of banks in Turkiye operate on principles of Islamic banking

Currently, Islamic banking holds a 9% share in the Turkish banking system.

Kazakhstan can support Azerbaijan in financial services

Kazakhstan can provide the necessary support to Azerbaijan in achieving strategic goals in the field of financial services development.

Demand of banks at currency auction grew by 21%

As a result of the auction, the weighted average exchange rate of the manat was formed at the level of 1.7000 AZN/USD.