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Regional Finance: April 2019 (1)

19 November 2019
120 AZN 70 USD 60 EUR

Summary of main events



Management changes in Azerbaijan’s National Depository Center
Turnover of stock exchange transactions decreases in Azerbaijan
PASHA Capital still leader among Azerbaijani brokers
Joint food producing enterprises with Russia may be created in Azerbaijan
Center for rendering services to entrepreneurs and business incubation opens in Azerbaijan
Average monthly salary increases in Baku
Industrial production up in Baku
ADB: Azerbaijan’s current account surplus to double
Investments in Baku’s fixed capital reduced
ADB: Economic growth in Azerbaijan to accelerate
AZPROMO: Favorable climate created in Azerbaijan to attract foreign investment
Azerbaijan, Russia interested in implementing joint projects
Azerbaijan, Russia ink co-op agreements
Russian investments in Azerbaijan exceed $4B: minister
CBA makes statement on inflation in Azerbaijan
Azerbaijan Central Bank sees growth in currency reserves
Int’l Bank of Azerbaijan, Agency for Development of SMEs ink protocol of intent
In 2018, legal entity registrations online in Azerbaijan reached 70%
WB improves forecast for Azerbaijan’s economic growth
Presentation of State-Business Dialogue Platform underway in Baku
Customs contributions to Azerbaijan's state budget increase
IMF expects lowest inflation in Azerbaijan among CIS countries
IMF: Azerbaijan to enter top 3 countries in CIS with current account surplus
IMF: Azerbaijan’s economy to grow 3.4% in 2019
Most of mortgage lending accounts for young families in Azerbaijan
Azerbaijan, UAE expanding ties in small & medium business
Ministry of Labor: DOST Center expected to open soon in Baku
Azerbaijan’s Agency for SMEs Development to help expand co-op between insurers, businessmen
Moody's affirms Azerbaijan's rating
Russian rating agency predicts economic growth in Azerbaijan
Azerbaijani, Russian military financiers meet in Baku
Azerbaijani businessmen get preferential loans worth about 25M manats
Instrument-making plant in Azerbaijan eyes to increase production capacity


How can reduction in CBA discount rate affect manat rate?
Profit of Azerbaijani banks decreases
Deposit portfolio of Azerbaijani banks slightly increases
Capitalization of Azerbaijan’s banking sector slightly increases
Azerbaijani banks increase lending
Tens of thousands of entrepreneurs receive preferential loans in Azerbaijan
Azerbaijani banks increase investments in securities
Moody’s maintains stable outlook on Azerbaijan’s banking sector
Azerbaijan’s Financial Market Supervisory Authority stands for reducing loan rates
Supervisory Board of VTB Bank (Azerbaijan) approves bank’s new composition
Lending to regions increases in Azerbaijan
Money supply up in Azerbaijan
Azerbaijani regions see increase in bank deposits
IBA eyes to start new business strategy
Value of mortgage loans up in Azerbaijan
Pakistani bank eyes to enter Azerbaijan’s credit market
Fitch Ratings comments on state of Int’l Bank of Azerbaijan
How much Azerbaijan’s banks invested in their IT infrastructure?
Moody's expects improvement of quality of banking supervision in Azerbaijan
New appointments in management of Azerbaijan’s Kapital Bank
Azerbaijan preparing list of persons to be compensated for problem loans
BirKart NBCO to expand branch network
Azerbaijan’s major collection agency expects decrease in loan portfolio


Azerbaijan delays launch of single system for assessing insurance damage
Large insurance company closes in Azerbaijan
Azerbaijan's insurance market grows by just over 2%
PASHA Life once again leads ranking of insurance companies in Azerbaijan on payments
Liquidation date of AXA subsidiary in Azerbaijan disclosed
Azerbaijani official critical of local insurance companies
Mega Insurance OJSC launches new corporate website



Expert talks on 4 obstacles faced by Iranian economy
Iran to face negative -5% economic growth in new year
Economist: Iran needs 3 key indices for economic development
Iranian economist: economic companies with ties to Sepah may mask themselves
Debt for $24M hangs over Iran's Foundation of Martyrs and Veterans
Iran commissions 20 projects in mining sector for last year
Tea prices rising in Iran
Iran to change process of allocating foreign currency for essential goods
Over 420 million euros of export revenues returned to Iran`s economic cycle
Iran to bring exports greenhouse products to $1B
Unemployment rate up in Iran last year
What should Iran do to boost its economy?

Banks & insurance

Price of 15 foreign currencies rises in Iran’s official state exchange rate
Assets of Iranian bank’s Baku branch grow almost 10%
Integrated currency market in Iran to reduce currency fluctuations?
Price of 23 foreign currencies rises in Iran’s official state exchange rate
Sales of foreign currency to Iran’s NIMA system accelerated
Iran's Central Bank stimulating currency distribution locally
CEO: Banks can help boost production boom in Iran

Middle Asia



Consumption, price of dairy products growing in Kazakhstan
Inflation in Kazakhstan makes up 1.3% year-to-date
Food prices up in Kazakhstan
Kazakhstan's trade with EEU up by 10%
ADB expects slower economic growth in Kazakhstan
Kazakhstan reduces external debt
WB reveals forecast for Kazakhstan’s GDP growth
Profits of Kazakh national companies plummet
SMEs' share in Kazakhstan's GDP growing
Kazakhstan's int'l reserves down
Arab countries lose interest in investing in Kazakhstan
Kazakh transport companies earn over $1.2B
Kazakhstan's state budget spends over $5B in two months of 2019
Kazakhstan's budget deficit up by 4 times

Finance & insurance

Online payments in Kazakhstan up by 2.4 times
Fitch affirms ratings of Kazakh institutions
National Bank: Situation in Kazakhstan's foreign exchange market remains stable
Microlending intensifies in Kazakhstan
Kazakhstan's int'l reserves down
Kazakh banks approve loans for 10 "economy of simple things" projects
Kazakhstan’s National Fund sees increase in revenues
Volume of non-cash payments in Kazakhstan almost doubles



ADB reveals Turkmen economy forecast for 2019-2020
Turkmen private businesses prepare investment projects in Caspian Sea
WB publishes macroeconomic forecast for Turkmenistan
Turkmenistan publishes data on state budget execution
Turkmenistan's GDP grows significantly since early 2019

Finance & insurance

Turkmenistan adopts new insurance regulations
Turkmenistan to continue work with int’l payment systems Visa, MasterCard
Turkmenistan to stop production of Visa Electron cards



Inflow of foreign direct investment in Uzbekistan sharply down
Uzbekistan tends to slow down price growth for non-food products
External debt of Uzbekistan increases by $ 1.5 billion
Investors withdraw funds from Uzbekistan for $ 1.194B
Fruits, vegetables, dairy products soar in price in Uzbekistan
Uzbekistan to launch 17 investment projects in its special economic zones
Number of tax payers in Uzbekistan soars
Sugar imports to Uzbekistan exceed $1B over three years
AIIB to invest in Uzbekistan's Bukhara region
Int'l oilfield services company begins drilling of 15 wells in Uzbek region
WB: Uzbekistan’s economic outlook positive with growth of 6% by 2021
Uzbekistan to reform civil legislation to attract foreign investments
Uzbek metallurgical plant signs contracts with 3 foreign companies for 453M euros
Number of enterprises with foreign capital in Uzbekistan almost doubles
AIIB: Uzbekistan has potential to re-emerge as strong economy in region
World Bank to help restructure wage system of Uzbekistan
Number of enterprises with foreign capital in Uzbekistan almost doubles

Finance & insurance

UzCard can be used in infrastructure of payment systems of EEU countries
Volume of shuttle trade in Uzbekistan amounts to $1.08B
Uzbek insurance companies collect premiums for over $194M
Uzbekistan receives remittances for $5.11B
Uzbekistan allocates nearly $920M to banks out of funds from sovereign bonds placement
Financial sector of Uzbekistan reduces activity?
Uzbek company to enter IPO in December 2019
Uzbek population deposits almost $1.9B in banks
Uzbek banks attract deposits worth $8.5B
Georgian TBC Bank buys 51% of Uzbek company shares for $5.5M
MasterCard to help set up cashless economy in Uzbekistan