JSC Capital Bank joined the international money transfer system Golden Crown (www.zolotayakorona.ru). As stated in the press release of the Russian system, it allowed them to expand the service network by 94 points - up to more than 1,440 points.
Now customers of Capital Bank can transfer funds to the countries of CIS and foreign countries at the rate of 1% (depending on the amount and direction of the transaction). The transfers are instant, unaddressed and sent without opening an account.
Capital Bank (former Savings Bank) operates for 140 years. Almost all of the shares (99.87%) belong to the group of companies Pasha Holding, and others belong to minority shareholders. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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