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

Moody’s upgraded rating of Azerbaijan

Moody’s upgraded rating of Azerbaijan Moody’s Investors Service has today upgraded Azerbaijan’s foreign- and local-currency government issuer ratings by one notch to Baa3 from Ba1. The rating outlook is now stable, APA reports. The main drivers of this rating action were: (i) the ongoing strengthening in the government’s finances, as reflected in the rapid accumulation of foreign assets by the State Oil Fund of Azerbaijan (SOFAZ) and the... Read More