President Aliyev signs order to declare 2018 as Year of Azerbaijan Democratic Republic
Azerbaijan's President Ilham Aliyev has signed an order declaring 2018 as a Year of Azerbaijan Democratic Republic.
The order underlines that May 28, 1918 marked a landmark event in the history of Azerbaijan when Azerbaijan Democratic Republic, the first parliamentary republic in the Muslim East, was established. The order notes that having lived for only about two years, Azerbaijan Democratic Republic left an indelible mark in the history of national statehood with its rich state building experience. It also emphasizes that Azerbaijan Democratic Republic prepared a good basis for the future independence of Azerbaijan.
The order says that 2018 will mark the 100th anniversary of the establishment of Azerbaijan Democratic Republic.
The President instructed the Cabinet of Ministers to prepare and carry out a plan of actions to celebrate the event at the state level. A number of events will be organized on this occasion both in Azerbaijan and beyond throughout the year.
Azerbaijan extends period for restructuring of banks' liabilities
Azerbaijani President Ilham Aliyev has signed a decree to amend the Law on Banks, extending the period for voluntary restructuring of banks' obligations.
Currently, the period for voluntary restructuring of liabilities of banks is 180 days. However, banks can extend the period by additional 90 days with the permission of financial regulator, the Financial Market Supervisory Authority.
The new amendments extend this additional period from 90 to 180 days. At the same time, the number of requests for extending the restructuring period may be unlimited.
The amendments also affect those restructuring processes that began before the adoption of the amendments.
Azerbaijan creates two new state agencies
Azerbaijani President Ilham Aliyev has signed a decree on measures to improve the management in the transport, communications and high technologies sectors.
The decree stipulates creation of the State Maritime Agency on the basis of the State Maritime Administration and the State Civil Aviation Agency on the basis of the State Civil Aviation Administration of Azerbaijan.
Ilham Aliyev approves structure of Transportation, High Technologies & Communication Ministry
Azerbaijan's President Ilham Aliyev in a decree approved the structure of the Transport, High Technologies and Communication Ministry.
According to the decree, the structure of the ministry includes:
1. Office (departments and sectors);
2. State Service of Motor Transport;
3. State Maritime Agency;
4. State Civil Aviation Agency;
5. Electronic Security Service;
6. The State Fund for Development of Information Technologies.