In order to provide customers with discounted banking products "Bank of Baku" launches a new project Amanat Klubu. Every depositor with a deposit history of at least 12 months can join the club. Based on the terms of cooperation with the Bank, the club members are divided into three categories:
Prestige (depositors with deposit history from 12 to 36 months)
Deluxe (depositors with deposit history of 36 to 60 months)
Elite (depositors with deposit history of more than 60 months)
Depending on the amount of the deposit, there are three categories in each group. For each contributor are special cards and privileges. Depending on the card, the customer can take advantage of various benefits, including interest gained on the contributions of a soft loan, a free service of SMS banking and internet banking.
Customer deposit history starts from 2005. Time intervals are not considered as deposit history.
Note that, the deposit portfolio of Bank of Baku at the end of February this year exceeded 288 million manat. Thus, compared to the same period last year, the deposit portfolio of the bank increased 49%. -15D -
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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