Parliament OKs central bank’s capital growth
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The Azerbaijani parliament approved an increase in the authorized capital of the Central Bank of Azerbaijan (CBA) up to 500 million manats at a plenary session Oon October 20.
The appropriate changes were made to the law "On the Central Bank of Azerbaijan".
Currently, the authorized capital of the Central Bank is 10 million manat.
The capital of the Central Bank is formed by share capital and capital reserves.
The capital reserves must not be less than the CBA authorized capital. They are formed through the deductions of earnings as a result of the fiscal year.
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