Weekly review of main events of Azerbaijani financial market

Finance 23 January 2022 14:13 (UTC +04:00)
Weekly review of main events of Azerbaijani financial market

BAKU, Azerbaijan, Jan. 23

By Nazrin Israfilova - Trend:

The information has been spread this week that the Central Bank of Azerbaijan (CBA) and the Azerbaijan Banks Association have blocked the betting payment method on the websites of gambling and sports sweepstakes by using bank cards issued in Azerbaijan.

The CBA has already sent the appropriate recommendations to the Azerbaijani banks regarding the ban on betting payment at bookmakers and online casinos by using bank cards.

Azerbaijan plans to develop a roadmap as part of the work on the use of financial technologies, the formation of a digital banking ecosystem, and expansion of access to the financial and banking services.

According to the message, the road map is planned to be developed through the technical assistance of TheCityUK organization and via the support of the UK’s embassy in Azerbaijan.

Azerbaijan and Turkey have launched the integration of Green Card system of civil liability insurance of car owners.

After the process is over, the availability of a Green Card in a car registered in Azerbaijan will be detected in the e-system while entering the Turkish customs checkpoints.

The same refers to a car registered in Turkey while entering the Azerbaijani customs checkpoints. This will prevent entering of the cars with fake Green Card insurance certificates into the country.

The integration is carried out on the initiative of the Compulsory Insurance Bureau between Azerbaijan and Turkey is the first experience in the activity of the Bureau’s International Council.

Azerbaijan plans to start integrating the Green Card system of civil liability insurance of car owners with Russia by late 2022.

The market capitalization of the Baku Stock Exchange (BSE) increased by 4.3 billion manat ($2.5 billion) in 2021 and reached the highest level in its history.

The trade turnover on the stock exchange amounted to 15.3 billion manat ($9 billion) in 2021 for the first time in 21 years of its operation.

A record volume of corporate securities (excluding mortgage bonds) was registered on the BSE, and 33 securities placements worth 376 million manat ($221.3 million) were carried out in 2021.

There were 115,151 loans in banks which are being liquidated by the Azerbaijan Deposit Insurance Fund (ADIF) as of January 1, 2022.

The pre-trial processes account for 45,770 of them, court proceedings – for 9,127, execution status – for 60,254.

Currently, 21 banks are being liquidated in Azerbaijan. Among them are AGBank, Amrahbank, AtaBank, Atrabank, Bank of Azerbaijan, Borcali Bank, Euro Bank, Credo Bank, Royal Bank, Texnika Bank, United Credit Bank, Zaminbank, Azerbaijan Credit Bank, Birlik Bank, Debut Bank, Dekabank, DemirBank, Ganja Bank, NBC Bank, Caucasus Development Bank, Bank Standard.