Central Bank of Azerbaijan raises requirement for capitalization of banks

Central Bank of Azerbaijan raises requirement for capitalization of banks

Azerbaijan, Baku, Aug.3 /Trend I.Khalilova/

The minimum total capital of existing banks, as well as the authorized capital of newly established banks increased to 50 million manat by the decision of the Central Bank of Azerbaijan (CBA), CBA told Trend on Friday.

The decision of the Central Bank is adopted on July 25, 2012.

The new standard for the minimum total capital will come into force from January 2014. At present, the minimum capitalization requirement, both for existing and newly created banks is 10 million manat.

"The transition period provides enough time for banks to implement strategies to meet the new requirements for capital and for the gradual implementation of the capitalization," the statement said. "Studies have shown great potential in the banking sector to meet the new requirement."

Application of the new requirements will promote increase of equity and efficiency of financial intermediation in addition to strengthening the position of the Azerbaijani capital of banks, which will result in an even more enhanced stability of the banking system and financial stability.

"At present, Azerbaijan's banking system is entering a new stage of development. It is necessary to continue the capitalization to enhance financial intermediation, integration into global financial markets and provide new quality of banking services at this stage," the statement said. "Strengthening of the capital base of banks is of great importance in terms of improving confidence in banks and their international competitiveness."

At the same time, it will have a positive impact on the development of financial markets, in particular the interbank market, the expansion of economic subject's access to financial services, the improvement of the range of banking services and support the cheapening of their value.

"All this will increase the financial depth of the banking system adequately to aims to double the growth and diversify of the economy," the CBA stated.

Official exchange rate on Aug. 3 is 0.7855 AZN/USD

Iran expects the US to take serious steps toward JCPOA
Iran expects the US to take serious steps toward JCPOA
Iran's awaits action from US over JCPOA
Iran's awaits action from US over JCPOA
Iran's Atomic Energy Organization talks Bushehr Nuclear Power Plant
Iran's Atomic Energy Organization talks Bushehr Nuclear Power Plant
Loading Bars
Latest
Croatian companies increase export of IT technologies to Azerbaijan - Croatian Embassy
Swedish police investigating possible 'terror motives' in knife attack
WHO reports over 348,000 new daily cases of COVID-19
Ukraine to receive 30 mln doses of COVID-19 vaccine in 2021: PM
Turkey’s export of chemical products up in early 2021
SpaceX’s Starship prototype explodes minutes after landing in Texas
Israel reports 4,173 new COVID-19 cases, 788,869 in total
EU shares new programs to be implemented in Georgia in 2021
UK reports 6,385 new COVID-19 cases, 315 deaths
Facebook to end ban on political ads in United States
Biden says it's a 'big mistake' for states to lift mask mandates
Covid protection measures vital due to unpredictability of its mutations — WHO
Africa's confirmed COVID-19 cases pass 3.91 mln
CoronaVac efficacy above 83% after Phase 3 trials in Turkey
Karaganda region to build mega sheep farm
Iran exports over 1.4mn tons of round bar in 10 months
Georgia reaches preliminary agreement with Novavax
Bitcoin rises by over 10% surpassing $52,000
One million COVID-19 vaccine doses administered in Romania
Czech Republic reports record breaking number of people hospitalized with COVID-19
WHO doesn’t recommend introducing Covid passports for now
Azerbaijan holds command training of troops of Nakhchivan garrison (PHOTO/VIDEO)
Azerbaijan reconstructs houses damaged during Second Karabakh War – Trend TV
Iran preparing for possible travel restrictions for Nowruz holiday
Iran's Health Minister expresses concern over spread of UK Coronavirus variant across country
Iran plans to release held up commodities from customs
Metallurgical production may increase in Azerbaijan
Azerbaijan's foreign trade balance with Israel remains positive in Jan. 2021
Venezuela always supported Azerbaijan’s territorial integrity - Ambassador
Azerbaijan, Pakistan discuss areas of military cooperation (VIDEO)
Bio-smart pavilion ready for integration with Smart City project network - Azerbaijan Innovation Agency
Georgia makes rapid progress on its commitments under Energy Community - Green for Growth Fund
Azerbaijani State Customs Committee develops new portal for visualizing customs statistics
'Uzbekistan GTL' plant receives fuel gas for first time
All deals with corporate securities in Azerbaijan fell on secondary market - BSE
Most transactions on state securities in Azerbaijan accounts for primary market
Azerbaijan plans to expand geography of wine export
U.S. private payrolls rise less than expected in February
Prosecutor's Office talks details of mine explosion accident in Aghdam
Loan portfolio of trade and services sector increases in Azerbaijan
Iran’s Bahar Azadi gold coin price starts to rise in Iran
Azerbaijan announces net foreign assets of commercial banks for January
Croatian 'green energy' companies could contribute to dev't of Azerbaijani liberated lands
President Aliyev receives in video format delegation led by Chairman Joint Chiefs of Staff Committee of Pakistan (PHOTO)
Next equipment from India will be brought to Iran’s Chabahar port
Silk Way Technics company has been keeping aircraft flying safely for 15 years
Turkmenistan has potential to benefit from future co-op with EU
Uzbek currency rates for March 4
Azerbaijani, Italian FMs discuss prospects for comprehensive development of relations
Iran plans to increase mushroom production and exports
Growth of trade turnover observed between Turkey and Uzbekistan
Azerbaijan's experience of implementing 'smart' projects to be presented in Belarus
PayPal in talks to buy Israeli co Curv
Kazakhstan expects recovery of business activity in 1Q2021
Chief of Azerbaijani Aghdam's Irrigation Department heavily injured in mine explosion (PHOTO)
OPEC+ considers oil output roll over for April
Azerbaijani police officers find air defense systems left by Armenians in Fuzuli (PHOTO/VIDEO)
Kazakhstan's Home Credit and Finance Bank may face additional asset quality pressure
Iran's exports to Turkmenistan via railways increase
Turkish revenues from export of defense-related products grow
Turkey increases steel exports to Azerbaijan since early 2021
Turkey plans to increase trade turnover volume with Georgia
Hungarian Globalia Kft to support solar park creation in Kazakhstan
Significant number of people receive unemployment benefits in Georgia
Turkey attaches importance to Azerbaijan-Georgia-Turkey trilateral format of co-op - FM
Uzbek-Chinese JV to buy gas piston power station via tender
Azerbaijan’s PASHA Bank to continue to improve digital products
Fruits and vegetables make up majority of Azerbaijan's export of non-oil products since early 2021
EU to promote local entrepreneurship in Georgian Adjara
Georgia's Batumi sees decrease in real estate transactions
Number of apartment transactions down in Georgia's Tbilisi - Colliers International
Major Azerbaijani state companies' revenues from non-oil products' export up in Jan.2021
Belarusian Belavia Airlines extends suspension of flights to Turkmenistan
Sales of Iranian mining companies soar
Moody's unveils current account balance in Azerbaijan's GDP for 2021
Uzbekistan’s economic activity index drops significantly
French Senate interested in strengthening bilateral co-op with Turkmenistan
Uzbekistan enters list of world’s largest cotton producers
Iran reveals COVID-19 data for March 3
Russia's Rosselkhoznadzor allows imports of apples, tomatoes from some Azerbaijani enterprises
Bosnian journalist talks parallel between genocides in Srebrenica and Azerbaijani Khojaly
Azerbaijan confirms 161 more COVID-19 recoveries
Approving FATF related bills in Iran's interest - Iranian President
No Mystery, Top American Pandemic Expert Lists 9 Govt Actions Behind Plummeting Covid Cases in India
Georgian VTB Bank to maintain adequate capitalization with RAC - S&P Global Ratings
Union of OIC News Agencies and ICD through THIQAH sign MoC to enhance cooperation in media field
Azerbaijan shares data on 2020 int'l cargo transportation by rail
Kazakhstan Railways opens tender for equipment repair
Georgian citizens can enter Turkey only if they have negative PCR test
Demand for notes of Azerbaijan's Central Bank surpasses supply
Moody’s says Azerbaijan’s economy to grow in 2021
Over 14 million Covid-19 vaccine doses administered in India: Government
India's women scientists breaking barriers in space exploration
Number of Mastercard products and operations increases in Azerbaijan
Crucial lessons to be learnt from Covid-19 outbreak
India's oil demand set to hit record high as recovery from Covid sets in
UK To Receive 10 Million AstraZeneca Covid Vaccine Doses From India: Report
Iran expects the US to take serious steps toward JCPOA
Biden appoints Indian-American Maju Varghese as Director of White House Military Office
India to invest $82 billion in port projects by 2035: PM Modi
All news