According to the amendment, the Ministry of Finance is now authorized to make a decision on signing a deal valued at 5 percent or more of the assets of the credit organization with the concerned person based on auditor`s report.
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Finance Ministry granted additional powers of control over banks
28 February 2016
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The Ministry of Finance has been granted additional powers of control over banks and non-bank credit organizations which have state-owned shares in their share capitals.
This is according to the presidential decree dated Feb.26 on making an amendment to the decree on the rule of state involvement in control over banks and non-bank credit organizations which have state-owned shares in their share capitals, APA reported.
According to the amendment, the Ministry of Finance is now authorized to make a decision on signing a deal valued at 5 percent or more of the assets of the credit organization with the concerned person based on auditor`s report.
According to the amendment, the Ministry of Finance is now authorized to make a decision on signing a deal valued at 5 percent or more of the assets of the credit organization with the concerned person based on auditor`s report.
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