New requirement to be established for bankrupt banks

A new requirement for bankrupt banks is being established in Azerbaijan.

Loans of these individuals to be written off next year

Central Bank currency rates for 6 November

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

Regulation on activity of foreign payment organizations finds its solution

Payment and electronic money organizations operating on the market for many years will now be covered by the regulatory framework.

Application of this law to create conditions for new organizations to enter the market

The requirements that must be met by suppliers in the provision of relevant services, their rights and obligations are regulated by law.

State Budget 2024 expenditures envisaged at 36.763 million manats

The State Budget expenditures for 2024 are envisaged in the amount of 36.763 billion (138.2 million mantas, or 0.4% more than in 2023).

Banks with operating earnings exceeding AZN 200 million

The operating profit of 4 out of the 24 banks operating in Azerbaijan exceeded 200 million mantas for Jan-Sept 2023.

Central Bank currency rates for 4 November

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

Minister: State does not intend to earn money from parking lots

The introduction of new tariffs for parking vehicles from July 25 does not mean that the State intends to earn money from this.

ACA chair: Expenses on servicing public debt to be increased by AZN 790.1 million

Azerbaijan State Budget Package for 2024 was discussed at a joint meeting of the Milli Majlis Committees on Legal Policy and State Building, on Defense, Security & Anti-Corruption, on Human Rights, on International & Inter-Parliamentary Relations.

Azerbaijan to spend over AZN 5.5 bn on socio-economic growth strategy in 2024

The State Budget is to allocate AZN 5.509 bn ($3.23 bn) for Socio-Economic Growth Strategy 2022-26, the Accounts Chamber on the Bill on State Budget 2024.

Companies that can also render financial services in Azerbaijan

Rules for destruction of banknotes withdrawn from circulation approved

The Cabinet Ministers has endorsed the Rules for destruction of banknotes withdrawn from circulation (with exception of counterfeit banknotes).

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Central Bank currency rates for 3 November

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

After end of tax benefits, growth rate of deposits of individuals decreased

This year, de-dollarization of individual deposits continued. Deposits of individuals in foreign currency fell by 4.1 pp to 35%.

Taleh Kazimov: Closed borders brought great benefits to State Budget and tourism sector

Closed borders have brought great benefits to the State Budget and the tourism sector.

Taleh Kazimov: Our strategy - foreign exchange reserves increased by 13.2%

In 10 months, our strategic foreign exchange reserves have increased by 13.2%.

Azerbaijan's external debt may decrease by 2026

Azerbaijan's external debt may decrease to $5 billion in 2024-2025.

What benefits are expected on collateral in banks?

Mortgaged property and land that credit institutions accept on the balance sheet in exchange for outstanding debts will be exempt from paying property and land tax.

Banks with balance sheet capital of over AZN 500 million

Four out of 24 banks operating in Azerbaijan had balance sheet capital of more than AZN 500 million as of October 1, 2023.