The cashless payments by Bank of Baku plastic cards have hit the record. According to the monthly report of the Central Bank of Azerbaijan (CBA), in May 2013 (http://cbar.az/standalone/nagdsz-dnilr-zr-nominasiya) Bank of Baku occupied the first place in this nomination.
According to CBA, within a month a majority of payments was made through POS terminals and ATM of Bank of Baku.
In particular, 166,890 payments were made by POS-terminals. In May 2013 number of cards bought in Bank of Baku totaled 244,683. This is the highest figure among the Azerbaijani banks.
By stimulating cashless payments Bank of Baku contributes to the policy of expanding of cashless payments pursued by CBA. Cooperation with CBA in this direction will be among the priorities of Bank of Baku.
Bolkart of Bank of Baku is the most popular one among the population. Over 120,000 Azerbaijani citizens use this credit card. It also offers Dostlar Klubu, VISA and MasterCards to loyal clients and co-brand cards Mybrand’s and Ideal. Bank of Baku is among the leading financial institutions at the local plastic card market.—0--
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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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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