CJSC AccessBank has put into operation a new branch in the village Badamdar (in the Baku suburbs).
As reported in the bank, the new unit will provide physical and legal persons with a full range of banking services including deposits, loans for small business and consumers, transactions on money transfers, registration cards, etc.
Since 2009, a branch of AccessBank operated in Badamdar, but in early July this year the branch was moved to the neighboring village Lokbatan, close to the shopping centers Bina and Sadarak.
Currently, the bank operates through 34 branches. - 15D -
Economics
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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Azerbaijan’s Milli Majlis approved in the first reading on Monday the draft budget of the State Social Protection Fund (SFS) for 2025, projecting a deficit-free financial plan with revenues and expenditures balanced at 7.676 billion manats, a 10.45% increase from the previous year.
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