The list of the agent banks of Azerbaijan Mortgage Fund (AMF) has been added.
According to the report, the latest beneficiaries are Caspian Development Bank and joint Azer-Turk Bank. Thus, the total number of agent banks of AMF is 30. So now you can get a mortgage in these financial bodies, too.
Caspian Development Bank (former Kovsar Bank) was created in 1988. The main shareholder of the bank since the end of last year is JSC Synergy Group. The authorized capital is 50,020,000 manat.
JSC Azer-Turk Bank with a registered capital of 50 million manat was established in May 1995. The shareholders are: State Committee for Property Affairs of Azerbaijan (75%), Turkish Ziraat Bank (12.37%), Ziraat Bank International (1.08%), the Azerbaijani reinsurance company AzRe Tekrarsigorta (6.55%) and the specialized life insurance company Qala Heyat Sigorta (5%). --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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