The Central Bank of Azerbaijan (CBA) imposed a financial sanction in the amount of 3,109 manats against PAŞA Bank OJSC.
Yeniavaz.com reports that the CBA disseminated information about this.
“Required reserve ratios are used in the banking sector to effectively manage excess liquidity and reduce liquidity concentration. Requirements for mandatory reserves imposed on banks are regulated by the “Rule, calculation and storage of required reserves” of the institution according to the law on the Central Bank. Based on this, banks must ensure the storage of required reserves in correspondent accounts with the CBA in accordance with the Regulations.
“PAŞA Bank” was fined in accordance with Article 32 of the law for failure to provide mandatory reserves with foreign currency in accordance with the required norm during the storage period from December 15, 2023 to January 14, 2024,” the information says.
It should be noted that 56.8% of the shares of PAŞA Bank with an authorized capital of 354.5 million manats belong to Pasha Holding, 28.2% to Bless LLC, 9.99% to Arif Pashayev, and 5% to Mir Jamal Pashayev.
Last year, PAŞA Bank received a net profit of 199 million 209 thousand manats.
It should be noted that last year 441 million 418 thousand manats or 58.7% of the profit of 752 million 291 thousand manats received by private banks went to 2 banks affiliated with Pasha Holding - Kapital Bank and PAŞA Bank. 

Murad Mamedov