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.

Turkiye's banking sector has grown

The total net profit of the Turkish banking sector has increased sharply.

Bundesbank faced losses first time since 1979

The central bank of Germany (Bundesbank) suffered losses last year for the first time since 1979.

Central Bank currency rates for 2 March

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

Central Bank currency rates for 1 March

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

Credit penalties are reduced

The debtor will not be charged more than 5% per annum of the amount for overdue loans.

Belgium has frozen Russian assets for €58 bn

Banks decreased demand by 30.7% at currency auction

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

Central banks of Azerbaijan and Tajikistan discuss expansion of cooperation

The central banks of Azerbaijan and Tajikistan are expanding their cooperation.