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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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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