Tracking the Discount Rate Cut in Azerbaijan

Tracking the Discount Rate Cut in Azerbaijan The Central Bank has lowered its discount rate from 5.00% to 4.75 % starting this week. According to the Central Bank, taking into account the optimal level of inflation, this step will lead to a decrease in inflation rates and thereby support economic growth in non-oil sectors.  The bank said that the targeted inflation rate would maintain currency stability and increase the money supply appropriately.... Read More

Banking System in Azerbaijan; On the light of New Transformation

Banking System in Azerbaijan; On the light of New Transformation The paper touches upon three main problems in Azerbaijan banking system, their solving and the estimated direction of its future prospect. The first problem is a trend between incomes coming from the interests of banking credits and compulsory resource allocation and solutions related with this issues; the second problem is an improvement of banking capital, to bring it more sustainable... Read More

Banks increase rates on deposits in manats

Banks increase rates on deposits in manats On 1 August, the average interest rate on deposits and deposits in national currency – manat in Azerbaijani banks amounted to 10.36% against 10.33% on July 1, 10.26% on January 1, and 10.69% on August 1, 2011 year. According to the Central Bank of Azerbaijan (CBA), the average rate on bank deposits in foreign currencies amounted to 10.77%, while on 1 July the rate was 10.79%,on 1 January –... Read More

Banking sector in Azerbaijan; from bankruptcy to regression?

Banking sector in Azerbaijan; from bankruptcy to regression? “There is not any case in the foreign experience that a minimum requirement for authorized capital is increased by five times”, said in an interview with “Echo” the chairman of the Center for Economic and Social Development Vugar Bayramov . In this regard, in his opinion, this is a serious administrative decision, despite the fact that it will enter into force on January... Read More