The only system of international money transfers from Azerbaijan - Caspian Money Transfer has announced the launch of the cash transfers to Georgia.
Under the terms of the action, from November 1 this year to February 28, 2013, for transfers, through the system of "Caspian Money Transfer" from Azerbaijan to Georgia (in favor of the banks Kor Standart Bank and Liberty) customers will pay a commission of 1.5%. However, they can send remittances to Georgian banks Kor Standart Bank and Liberty Bank for just 1% from the branches and offices of Zaminbank (the clearing bank system).
Operations under the Caspian Money Transfer take up to 5 minutes, and the commission is 1.5-2% and is levied only on the sender. The total number of service outlets today is about 130 thousand, covering 190 countries. Agents of the system are 21 of the 44 banks operating in 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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