The Central Bank of Azerbaijan abolished the license of the Narimanov branch of Bank Technique (former Texnika Bank) that acted since November 2012.
According to the Central Bank, the unit was located at street Gadirbekova, 63A. Over the past five months were also closed bank branches in Astara, Masalli, Salyan and Agdash.
Recall that at the beginning of last year, high-ranking officials of the then Texnika Bank, led by the Chairman of the Supervisory Board and shareholders of the bank were arrested. From May to August in several special meetings of the shareholders the composition of the Board, the Supervisory Board and the Audit Committee were updated, and it was decided to hold a re-branding and liquidation of subsidiaries Texkart and LLC Texnikalizinq.
The Bank currently operates through 35 branches and 28 offices, including 23 offices in Baku. - 15B -
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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