BAKU, Azerbaijan, July 22. Shahin Mahmudzade was appointed Advisor to the Chairman of the Central Bank of Azerbaijan (CBA) this week, Trend reports.
A working group has been set up in Azerbaijan to ensure that inflation in the country is reduced to a level acceptable for economic growth, further improve the analysis and monitoring system that allows quantitative and qualitative assessment of inflationary processes and their causes, as well as strengthen interdepartmental coordination in this area.
Moreover, the CBA expects that the volume of the insurance market this year will reach 1.2-1.3 billion manat ($705.9-764.7 million).
In addition, at the 12th meeting of Azerbaijan-Uzbekistan Joint Intergovernmental Commission in Shusha, an agreement was signed between the Ministry of Economy of Azerbaijan and the Uzbekistan Fund for Reconstruction and Development.
The agreements envisage the establishment of an Azerbaijani-Uzbek Investment Company, as well as the development of cooperation in the field of energy. The implementation of these documents will further strengthen our economic partnership and foster closer cooperation between the business circles of both countries.
Meanwhile, the Governor of the Central Bank of Azerbaijan (CBA) Taleh Kazimov met with expert groups operating under the Azerbaijan Banks Association (ABA).
According to the CBA, the meeting discussed the goals of developing an interbank card center, regulating the banking-fintech environment, simplifying the issuance of loans to micro-businesses, remote opening of bank accounts, improving the structure of cyber risk regulation and other issues.
The Black Sea Trade and Development Bank (BSTDB) disclosed its portfolio for projects in Azerbaijan. The current project portfolio of the Black Sea Trade and Development Bank in Azerbaijan as of January 1, 2023 amounted to 12.6 million euro.