Authorized capital of Central Bank of Azerbaijan to be increased by 50 times
Baku, Azerbaijan, Oct. 15
By Azad Hasanli - Trend:
The authorized capital of the Central Bank of Azerbaijan will increase to 500 million manats.
The relevant amendments made to the law "On the Central Bank of Azerbaijan" have been submitted to the parliament of the country.
Currently, the authorized capital of the Central Bank is 10 million manats.
Capital of the Central Bank consists of its share capital and capital reserves.
Capital reserves should not be less than the authorized capital of the CBA, and are formed by deductions from earnings on the results of the fiscal year.
The official exchange rate for October 15 is 1.0469 AZN/USD.
Edited by CN