JSC "Bank of Azerbaycan" connected to urgent money transfers for individuals "Monex". It is said in a statement.
The system "Monex" is a proprietary product of "MuganBank" and shove at the end of 2011. Sending and receiving money through this system takes up to 10 minutes, and the commission varies in the redistribution of 0.2-1.5% and is charged only with the sender.
This system serves customers in more than 500 branches and offices of 23 banks in the country. Customers also have the ability to quickly send and receive money transfer to Georgia.
Currently, "Bank of Azerbaycan" works actively in the money transfer systems Contact, Migom, Caspian Money Transfer, Western Union, and the "Golden Crown". - 15D -
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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