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Azerbaijani banks to raise funds through central bank

Tuesday, July 5
“The Central Bank of Azerbaijan (CBA) will attract funds from other banks of the country placed in form of deposits at an auction for the second time July 4,” said the CBA in a message posted on its website.

Thus, Azerbaijani banks will be able to augment their funds with the help of the CBA at an auction which will take place on the Bloomberg trading platform.

The amount of the funds the CBA is willing to accept from the country's banks is 50 million manats.

The interest of the deposits other banks will place in the CBA for one month will vary between 4.01 percent and 6.99 percent.