Assets of the Non-banking Credit Organization (NBCO) increased by six times due to times CJSC "Agrarkredit"
In Azerbaijan, by 1 January operated 228 branches of the NBCO, funded by international humanitarian organizations. According to the Central Bank of Azerbaijan, their total assets in the period were at the level 607 430 000 manat (+ 10.3% YoY). In general, the country has 240 branches FINCA with total assets grown at six times (3 billion 879.7 million AZN). Such high growth is due to the allocation of 3 billion manat by NBCO "Agrarkredit" to settle the problem of obligations of the International Bank of Azerbaijan, according to the presidential decree of 7 August 2015. In the register of the CBA by the beginning of the year were registered 157 non-bank credit institutions, including 109 credit unions, 47 organizations financed by international humanitarian organizations , and the mentioned Closed Joint Stock Company "Agrarkredit", where the state share is 100%. --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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