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Regional Finance: March 2019 (1)

14 October 2019
120 AZN 70 USD 60 EUR

Summary of main events



Azerbaijan working on local development plan for economic regions
Azerbaijan’s Chamber of Auditors talks on audit problems
IRTI, Effat University to organize joint Islamic finance conferences
Azerbaijani Ministry of Finance will answer citizens' questions online
Saudi Arabia offers Azerbaijan to sign agreement on customs co-op
Minister: Azerbaijan’s international rating should be revised
Azerbaijan-Iran economic turnover up by 74%
Saudi Arabia eyes to expand investment co-op with Azerbaijan
President Meta: Albania-Azerbaijan Business Forum would strengthen bilateral economic co-op
Orkhan Mammadov: SMEs to form most of Azerbaijan’s GDP
Azerbaijan Railways: Azerbaijan-Iran economic ties to be strengthened
30,000 new jobs to open in Azerbaijan
Elman Rustamov: Azerbaijan has everything needed for even greater development
Central Bank plans to introduce instant payment system in Azerbaijan
WB appreciates Azerbaijan’s economic success
WB reveals 3 main principles of co-op with Azerbaijan
Azerbaijan Central Bank sees growth in currency reserves
World Bank: Azerbaijan needs more technical assistance, less financial support
Monthly inflation in Azerbaijan - 0.6%
Ex-president: Latvia, Azerbaijan have huge potential to develop economic co-op
Azerbaijan Micro-Finance Association to help develop female entrepreneurship
WB: Small, medium-size enterprises - engine for development of Azerbaijan's economy
Azerbaijan reveals cost of paid services rendered to Baku residents in January
Average monthly amount of mortgage loan in Azerbaijan reaches historic highs
Minister: New concept on forecasting Azerbaijan’s pension system to be ready by end-2019
WB: Azerbaijan to become donor country to assist poor nations
Opening new Azerbaijani business facilities in Russia to strengthen bilateral trade
More "Friend of SMEs" structures to start functioning in Azerbaijani regions
"Friend of SMEs" network expanding in Azerbaijan
Customs contributions to Azerbaijan's state budget up
Official: Azerbaijan, Russia’s Gazprombank have prospects for expanding co-op
Azerbaijan, Russia actively building up trade & economic co-op: minister
Investments in Azerbaijan’s fixed assets down
SOFAZ decreases sales of foreign currency to Azerbaijani banks
Azerbaijani Ministry of Finance to auction manat bonds


Compensations on problem loans in Azerbaijan to be credited to special accounts
Expert: Decree of Azerbaijani president on problem loans to restore public confidence in banks
New credit rating model presented in Azerbaijan
Assets of Azerbaijani banks slightly increase
Azerbaijan Micro-Finance Association to help develop female entrepreneurship
CBA: Azerbaijani banks to get double benefit thanks to decree on problem loans
New communication channel from AtaBank!
Total assets of Azerbaijan's Expressbank up by 25%
International Bank of Azerbaijan's recovery process at final stage
Azerbaijan to determine list of citizens for problem loan compensations
Azerbaijani citizens to get compensation for problem loans in euros and rubles
AtaNet now available in 3 languages
Azerbaijan repays about 24% of received loans
WB regional director: Decree on problem loans in Azerbaijan aims to support poor
Volume of bank deposits in Azerbaijan increases
Volume of problem loans in Azerbaijan drops by more than 7%
Increase in bank deposits in Azerbaijani regions
Will Azerbaijan expand list of preferential mortgage recipients?
Azerbaijan increases lending to regions
Cash in circulation in Azerbaijan up
Gazprombank: Russian banks may finance Azerbaijani companies’ projects
French bank to help improve financial stability of Azerbaijani banking sector
Which Azerbaijani districts leading in terms of growth of bank deposits?
Holiday campaign for corporate clients, individual entrepreneurs from Azer Turk Bank
Finance minister: Mechanism of paying off problem loans prepared in Azerbaijan


PASHA Life leads among insurance companies in Azerbaijan
Non-life insurance significantly increases in Azerbaijan
TOP 10 insurance companies of Azerbaijan in terms of fees
Baku Insurance company has new shareholder
Which areas will ensure growth of Azerbaijan’s insurance market in 2019?
Assets of Azerbaijani insurance companies significantly increase
Azerbaijan determines primary directions of microinsurance
Azerbaijan’s financial regulator limits license of one of insurance companies
Azerbaijan proposes to introduce ICT risk insurance



Iran's shipment volume drops 13.9%
Iran exports $1.2B worth of non-oil goods via Arvand Free Zone
Iran self-sufficient in wheat, sugar production; still imports meat
Iranian economy "100%" does not accept sanctions, says official
Iran's West Azerbaijan province has 185 active mines
Iran is to skip USD in its global transactions

Banks & insurance

Armed forces-linked banks to merge in Iran
Iran Central Bank governor calls for preserving ties with foreign banks
Iran gov’t debt to Central Bank down
Iran goes forward with bank merger; bank shares to be transferred
Which measures should Iran take to improve NIMA system?
Iran to reduce its bank branches
Tehran's prosecutor: currency trading with street exchange dealers is crime
Iran's gov't settles part of its debts to banks via bartering

Middle Asia



Food prices rising in Kazakhstan
Kazakhstan's industrial products slightly rise in price
Kazakhstan sees slight inflation
Trade volume in Kazakhstan increases markedly
Kazakhstan to export cattle to Iran
Inflation in Kazakhstan may exceed its target level
National Bank talks GDP growth in Kazakhstan
Tax revenues of Kazakhstan National Fund surge
Off-season vegetables rise in price notably in Kazakhstan
S&P expects Kazakhstan's gov't and external balance sheets to remain robust
Food prices rise, utility tariffs decrease in North Kazakhstan region
Number of private enterprises with state participation down in Kazakhstan
Kazakhstan aims to achieve GDP growth of 5%
Kazakhstan updates forecast of 2019 main macro indicators
Retail trade in Kazakhstan up by 4%

Finance & insurance

National Bank of Kazakhstan keeps base rate unchanged
Kazakhstan discusses co-op prospects with EBRD, WB
Russian Copper Company to start copper-zinc ore mining at Kazakh deposits
Microlending in Kazakhstan increases significantly
Several banks from Russia, Kazakhstan plan to open branches in Uzbekistan
Kazakh National Bank to continue to adhere to free floating rate of tenge
Kazakh bank increases authorized capital
Non-cash payments in Kazakhstan's Almaty region triple
Kazakhstan Investment Development Fund established
Kazakhstan's international reserves slightly down



Turkmenistan, OECD mull projects for attracting int’l investments in state agencies
IDB interested in investing in Turkmen private sector
Turkmenistan adopts law on environmental audit
IDB interested in investing in Turkmen private sector
WB, Turkmenistan mull opportunities for co-op diversification
Turkmenistan setting flexible prices for cotton & oil products
Turkmenistan reveals value of ongoing construction projects
Turkmenistan publishes data on state budget execution
Turkmenistan sees significant GDP growth since early 2019
Law on Rationalization Activities enters into force in Turkmenistan
Turkmenistan conducts phased privatization
Turkmen joint-stock commercial bank working to connect to MasterCard



Tomato prices cause inflation in Uzbekistan
Epsilon plans to invest over $2B in geological exploration in Uzbekistan
Russia to assist Uzbekistan’s accession to WTO
Uzbek Ministry, Uzcard to create accounting system working on blockchain technology
IMF forecasts Uzbekistan's GDP to increase to 5.5pct
US Dollar rate down in Uzbekistan
IMF: Uzbekistan's fiscal position should maintain macroeconomic stability
IMF forecasts Uzbekistan's GDP to increase to 5.5pct
Dutch TGS: Uzbekistan has high potential to develop export
WCO to involve Uzbekistan in its activities
Uzbekistan takes measures to seriously improve international rankings
Uzbek enterprise plans to increase exports to $10M
Majority of Uzbek companies forecast rise in prices for goods in 2019
Foreign capital's share in Uzbek enterprises increases
New labor code to allow Uzbekistan to reach new socio-economic level
WB, EU: Uzbekistan has stable, efficiently implemented state budget

Finance & insurance

Gazprombank, Uzbekistan may set up consulting services JC
Uzbekistan does not intend to carry out denomination
Uzbekistan insurance companies collect over $190M of premiums
Uzbekistan holds auction for placement of government securities
S&P Global Ratings upgrades ratings of Uzbek bank
Several banks from Russia, Kazakhstan plan to open branches in Uzbekistan
Uzbekistan simplifies cash transfer to banks
EximBank of Hungary intends to finance projects in Uzbekistan
Uzbek, Korean banks sign agreement on cooperation in field of remittances
RAEX-Europe upgrades sovereign rating of Uzbek government
Uzbekistan to eliminate problems of foreign exchange market
Uzbekistan to begin to issue cash foreign currency before end of 2019