Authorized capital of Credit Guarantee Fund makes up AZN 100 million

Authorized capital of Credit Guarantee Fund makes up AZN 100 million
  • Clock-gray 07:09
  • calendar-gray 30 November 2017

Authorized capital of Credit Guarantee Fund was set at AZN 100 million.

 

APA-Economics reports that President Ilham Aliyev approved regulations of the Credit Guarantee Fund.

 

The authorized capital consists of 10 million ordinary, book-entry shares with the face value of AZN 10.

 

Decline or increase of the authorized capital is carried out in accordance with the Civil Code.

 

The property of the Fund is formed by property included in the authorized capital, allocations from the state budget, receipts from its activity, funds from placement of bonds issued by the Fund, loans, grants, and other sources.  

 

The funds are stored in the account opened in the Central Bank of Azerbaijan.

 

 

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