In order to expand lending to small businesses in the country, JSC "Bank Technique" announces the launch of a new project - "Peer lending."
The new service of the Bank will be able to take advantage of a group of people who know each other, living in the neighborhood or working in the same company , and engaged in activities related to the production , services, commerce and agriculture.
Group loans, the amount of which reaches 3 manat, issued on the basis of group guarantee for up to 12 months. The number of members of the group can be from 3 (low) to 10 (maximum) people.
The project is aimed at providing citizens engaged in a profession or family farm , credit and financial services in simplistic terms , will also contribute to socio-economic development of the regions .
At the first stage of group loans will be issued in Ganja, Zagatala , Bilasuvar and Beylagan . In the future, the project will cover other regions of the country. -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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