WB Manager for Azerbaijan changes

On July 1, the term of office of the World Bank's Manager for Azerbaijan, Sarah Michael, expires.

MP: High interest rates of bank transactions upset people

People are upset by the high interest rates of bank transactions, it is 1.5-2% more.

MP: If Central Bank reduces inflation, then bank interest rates should also decrease

Bank interests in Azerbaijan are predatory in nature.

In Azerbaijan, it will be difficult to get a stake in NBCO

The procedure for acquiring a substantial interest in the authorized (share) capital of non-bank credit organizations (NBCO) is determined.

Azerbaijan to introduce new fines

New fines are being imposed in Azerbaijan.

VTB Bank (Azerbaijan) OJSC announces tender

Requirements for persons wishing to carry out currency exchange activities to be tightened

The Central Bank of Azerbaijan will set an upper limit on currency exchange operations carried out by persons who have received a license to operate in this area.

Procedure for obtaining banking licenses changes

The procedure for obtaining banking licenses is to be changed.

CBA chairman: We are most concerned about inflation

According to Central Bank’s forecasts, by the end of 2023, GDP growth will be about 1.8% -2%.

Economic independence granted to CBA

It is proposed to grant economic independence to the Central Bank of Azerbaijan.

Number of CBA board members increases

It is proposed to increase the number of members of the Board of the Central Bank of Azerbaijan from 7 to 9.

Central Bank currency rates for 5 June

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

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.