In the district center Shemkir a branch of JSC Amrahbank opened at January 20 Street, 13A.
The subsidiary office has an area of 420 square meters equipped with modern equipment and ready to provide a full range of banking services. It provides loans, opening of current and deposit accounts, money transfers, transactions on international plastic cards to Visa and Mastercard, currency exchange operations, cash settlements, as available to individuals and corporate customers.
JSC Amrahbank was licensed in December 1993. The bank has 24 branches and sub-branches, 15 of which are in Baku. -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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