The International Bank of Azerbaijan jointly with the Visa international payment system has started to use the program Secure Card in the framework of the Visa Zero Liability project. The program protects consumers from unauthorized transactions.
"With the principle of Visa Zero Liability in Azerbaijan, consumers will be able to make purchases almost anywhere and still feel protected against fraud," said Visa Country Manager in Azerbaijan, Moldova and Belarus, Igor Kovalev.
In its comments IBA indicates that customers using this program do not bear any responsibility for the operation, which they did not confirm.
If the fact that the client did not conduct any kind of operation is confirmed, the bank returns the loss to him. -----71D
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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