BAKU, Azerbaijan, January 8
By Nazrin Israfilova, Trend:
The number of licensed NBCOs in Azerbaijan reached 56 after the Board of the Central Bank of Azerbaijan (CBA) issued the license to the non-bank credit organization (NBCO) SF Azerbaijan LLC.
The number of licensed investment companies in Azerbaijan reached 12 after the Central Bank issued a license to Troni CJSC Investment Company.
"The implementation of reforms in the sphere of corporate governance has begun in state-owned companies within the framework of the activities of the Azerbaijan Investment Holding. A comprehensive action plan is currently being implemented in order to improve the financial results of these companies and increase transparency. The supervisory board has been formed in nine companies, and the structure of one has changed meantime," stated the Minister of Economy of Azerbaijan Mikayil Jabbarov.
The diagnostics of the results of activities in the legal, financial, tax and commercial spheres was carried out with the involvement of international consultants at eight state-owned enterprises under the management of the holding. The action plan is prepared for areas that need to be improved and for issues pending based on the diagnostics.
Corporate strategy development or portfolio companies, the establishment of annual and mid-term performance indicators and goals to improve financial stability, as well as the development of dividend policy are important directions of the action plan. The financial results of four large state-owned companies, including SOCAR, have already significantly improved, and this tendency intensifies.
Providing the food security in Azerbaijan is the main task. Azerbaijani government is taking all the necessary steps to minimize the consequences of rising prices.
The state budget for 2022 was formed considering the increasing incomes of the population.
According to the forecasts on the price index for goods and food for 2022 by international organizations, there is a relative decrease of the consumer price index compared to 2021, and partial decrease countries that are the main trading partners of Azerbaijan.
Forming a complete value chain of food production in the country in order to achieve 100 percent localization is the only way to minimize the impact of price increase in the future.
From January 19, the real estate of Standard Bank CJSC, experiencing the liquidation process, will be auctioned at the Baku Auction Center. The bank's real estate contains non-residential premises (total area 9241.5 square meters).
The object has already been auctioned previously, but the auction, scheduled for December 22, 2021, did not take place. The price of the property is 290000 manat ($170588.24).