JSC "Bank of Azerbaycan" revised the interest rates on the term deposit "Progressive" in the direction of raising them.
The interest rates on six-month deposits rose by 2 percentage points to 5% and for 12-month deposits by 5 percentage points up to 12 percent per annum.
Funds for this contribution are made in manat, U.S. dollars and euros, for a period of 6, 12, 24 and 36 months. Issuance of interest income is arranged on a monthly basis or at the end of the deposit agreement.
As an option the investor is given a credit of 80% of the deposit, and a free card Visa Electron.
Deposit portfolio in the first half of this year increased by 16.7% to over 120.1 million manat, including term client investments that increased by 22.9 percent to 68.23 million manat.
The bank since 30 July 2007 has been a member of Azerbaijan Deposit Insurance Fund and all investments with interests not higher than 12% are insured. - 15B -
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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