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Regional Finance: May 2019 (1)

17 September 2019
120 AZN 70 USD 60 EUR

Summary of main events



EBRD presents recommendations for development of Azerbaijan’s financial sector
Creation of Azerbaijan's Houses of SMEs to expand range of services to enterprises
First House of SMEs in Baku to open until end of 2019
PASHA Capital retains leadership among Azerbaijani brokers
Azerbaijan invested hundreds of millions in industrial parks since early 2019
IFC talks progress of projects’ implementation in Azerbaijan
EBRD presents recommendations on Azerbaijan’s economy diversification
Expert: Azerbaijan’s State Food Safety Program to stimulate production of organic products
EBRD presents recommendations for development of Azerbaijan’s financial sector
Montenegro supports Azerbaijan’s commitment to intercultural interaction - Minister
Azerbaijan, UN eye to spend millions of dollars on joint projects
Minister: About $5M spent on joint projects of UN & Azerbaijan
Total capital of Azerbaijan’s Financial Monitoring Service exceeds 3M manats
Money supply up in Azerbaijan
Value of preferential loans for women entrepreneurs in Azerbaijan revealed
Azerbaijan expects growth of government securities market
About quarter of concessional lending mastered by Azerbaijani businesses in 2019
IFC invests $500M in Azerbaijani private sector
Customs contributions to Azerbaijan's state budget increase
Which goods and services fall in price in Azerbaijan since early 2019?
Average salary in Baku grows
Weekly turnover at Baku Stock Exchange exceeds 252M manats
Azerbaijani State Customs Committee talks on rise in prices for goods imported from China
Significant reduction expected in debt portfolio of major Azerbaijani collecting agency
WB: Azerbaijan only country in South Caucasus with positive demography
EBRD forecasts GDP growth in Azerbaijan
Finland encourages Azerbaijan to work actively towards accession in WTO
Chairman of Azerbaijan’s Agency for Development of SMEs meets head of SMEs Development Organization of Turkey
Situation in microfinance market improves in Azerbaijan
Azerbaijan prepares new project with WВ for expanding self-employment program
3 new DOST centers expected to open in Azerbaijan in 2020
Georgia to receive next tranche from IMF worth $40M
Industrial production up in Azerbaijan
ISSA President appreciates creation of DOST centers in Azerbaijan
Moody's: CIS lags behind Europe in terms of penetration of online banking services
Growth of operations in non-cash, cash currency markets observed in Azerbaijan
Amount of investments in Azerbaijan’s fixed capital down


Azer Turk Bank introduces СashBack for loan payments
Foreign citizens spend less in Azerbaijan
Azerbaijani bank’s net profit down
Azerbaijan’s PASHA Bank, Turkish Airlines present joint product
Azerbaijani bank slightly increases loan portfolio
Major Azerbaijani bank completes 1Q19 with losses
Azerbaijani bank slightly increases loan portfolio
Reduction of interest rates on loans & deposits expected in Azerbaijan
Azerbaijan’s Muganbank completes 1Q19 with significant losses
Azerbaijan’s NBC Bank completes 1Q2019 with losses
Value of guaranteed loans in Azerbaijan revealed
Capital of Azerbaijani bank falls below regulatory requirements
Apple Pay, Google Pay, Samsung Pay may soon be introduced in Azerbaijan
Value of mortgage loans up in Azerbaijan
New appointment in Azerbaijan’s PASHA Insurance
Azerbaijani AG Bank’s losses down in Jan.-March 2019
CBA decreases lending to banks
Institute of tax ombudsman established in Azerbaijan
Net profit of Azerbaijan’s Premium Bank decreases almost four times
Volume of instant remittances up in Azerbaijan
Turnover of payment cards in Azerbaijan grows
CBA decreases lending to banks
Baku branch of Iranian bank looks to increase loan portfolio
Amount of compensation on Unibank’s problem loans for first 2 weeks disclosed in Azerbaijan
Azerbaijani bank almost doubles net profit
Mortgage lending value in Azerbaijan since beginning 2019 revealed
Azerbaijan Mortgage & Credit Guarantee Fund may change conditions of mortgage lending
Capitalization of Azerbaijan's banking sector increases by over 11%
New appointments in Azerbaijan's AFB Bank
Azerbaijan's Turanbank finishes 1Q2019 with profit


Restrictions lifted off Azerbaijan's AtaInsurance company
PASHA Life retains leadership in ranking of insurance companies in Azerbaijan on payments
TOP 10 insurance companies of Azerbaijan in terms of fees
Life insurance market shrinking in Azerbaijan
Azerbaijan’s non-life insurance market keeps growing
Expert talks on growth of Azerbaijan's insurance market in 2019



MP: Iran's liquidity grows by 34,000 % in last 45 years
Iranian economist: petrol prices do not affect inflation in Iran
Onions rise in price in Iran
Iranian expert: Intervention in market to result in defeat for anyone
Iran considers using coupons for basic goods
Iran’s electric power industry in need of $5B of investments
Iranian ministry: Iran’s economy entering crisis period
Iranian industry minister calls for daily monitoring of consumer goods
Governor of Iran's East Azerbaijan talks province's projects, development
Iran discloses reasons of increase in pasta, sugar and canned tuna prices
Iran discloses number of unemployed in Tehran province
Rice prices growing in Iran
Iran does not get $30B of its revenue from exports
Exports of Iran’s Ardabil Province up by 124%
Expert: Public economics in Iran can not meet social demands
Iranian expert: official rate of $1 - 42,000 rials to be gradually annulled
Iranian MP: declining value of national currency as one of main reasons for rising prices
Minister: Iran has special plan for its mining sector

Banks & insurance

Banking relations are main problem of Iran oil export
Central Bank of Iran plans counter measures for new round of sanctions
Iranian economist: Iran needs oil money
Iran's integrated foreign exchange market to help stabilize foreign exchange rate and restrict the interferences
Price of 10 foreign currencies up in Iran, according to official rate
Iran eyes to expand co-op with Austria in trade and banking
Iran's Central Bank governor talks on INSTEX and SATMA systems

Middle Asia



Kazakhstan attracts unprecedented amount of investments
Cost-effectiveness of Kazakhstan's businesses decreases
Voluntary super contributions in Kazakhstan decrease
Chinese company to invest $1.1 B in Kazakh car factory
Over half of direct investment profits fund Kazakh subsidiary companies
EBRD reveals forecasts for Kazakhstan's GDP growth
Kazakhstan's balance of payments becomes surplus in 1Q2019
Kazakhstan reduces exports
Kazakhstan, other EAEU states, Iran establish temporary free trade zone
EBRD talks on allocating loan to largest microfinance organization in Kazakhstan
Number of small enterprises increases in Kazakhstan
Prospects of Kazakh online trade outlined
GDP of Kazakhstan continues to increase
Trade turnover increases in Kazakhstan
Kazakh Ministry: Trade turnover of Turkic Council states must reach 10% of GDP
Kazakh people spend over $664M on communications

Finance & insurance

Kazakhstan banking sector's assets decrease
Kazakhstan's ForteBank to invest in local entrepreneurship
Paradox of dollar in Kazakhstan:it is leader in decline of purchases although most people buy it
Amount of average monthly salary in Kazakhstan increases by 10%
EBRD talks on allocating loan to largest microfinance organization in Kazakhstan
Net loss of Kazakh banks decreases
National currency deposits of Kazakhstan decrease
Kazakhstan received over million money transfers in 2019
Assets of Kazakh ForteBank increase
Income of insurance sector in Kazakhstan doubles
Average monthly nominal wage in Kazakhstan stands at $442
Kazakhstan spends a record breaking amount on defense
Over half of direct investment profits fund Kazakh subsidiary companies
Kazakh Deposit Insurance Fund to raise deposit rates
Kazakh real estate market prices for April 2019
Deposit rates increase in Kazakhstan
Managing Director of International Monetary Fund to visit Kazakhstan
Over 24,000 Kazakhs signed up for compulsory social health insurance
Kazakh people spend over $664M on communications
Kazakhstan's balance of payments becomes surplus in 1Q2019



Country director: ADB aims to contribute to increased exports in Turkmenistan
Turkmenistan exploring Russia’s experience in creating e-gov’t
Turkmenistan renewing customs procedures for export-oriented goods
Turkmenistan holds briefing on 1st Caspian Economic Forum in Uzbekistan
WB reveals timeframe for closing technical assistance project in Turkmenistan
Turkmenistan's GDP significantly grows in early 2019
Turkmenistan holds briefing on 1st Caspian Economic Forum in Uzbekistan
Turkmenistan focuses on achievement of SDGs in economy, ecology and social sphere
Turkmenistan prepares draft state budget and investment programs
EBRD reveals Turkmen GDP forecast
EBRD honors greenhouse project in Turkmenistan with gold award
Kyrgyzstan ratifies agreement with Turkmenistan on elimination of double taxation



Prices for fruits, vegetables in Uzbekistan increases by over 20.5%
Uzbekistan to start supplying fruits, vegetables to largest trade network in Russia
Uzbek, Russian Foreign Ministers exchange views on socio-economic rehabilitation of Afghanistan
Turkmenistan holds briefing on 1st Caspian Economic Forum in Uzbekistan
Green energy consumers in Uzbekistan to get tax privileges
Uzbekistan complies with 23 of 36 principles of IMF fiscal transparency
Uzbek authorities to enter into PPP agreements with investors for up to 49 years
Fergana region of Uzbekistan plans to use $2.5 B in direct investments
Uzbekistan implements 140 foreign projects worth $3.2B
Fitch affirms Uzbekistan at 'BB-'; Outlook Stable
EBRD to allocate Uzbekistan loan of $60 M
Number of enterprises with foreign capital in Uzbekistan almost doubles

Finance & insurance

S&P raises rating of Uzbek bank
Uzbekistan sells state-owned shares in industrial enterprises and financial structures
Uzbekistan introduces contactless payment card
Amount of transactions through clearing settlement in Uzbekistan increases by 1.7 times
Largest volume of exchange trades in Uzbekistan - in banking sector
IMF encourages Uzbekistan to contain credit growth
Visa company to contribute to introduction of new digital payment products in Uzbekistan
70 M outlets worldwide to start accepting Uzbek Humo International Card
ADB to allocate $200M to Uzbekistan to create long-term mortgage system