JSC Caspian Development Bank has become a full member of VISA International. As stated by the financial structure, the decision was taken at the last meeting of the VISA in Singapore.
Membership in the global system allows financial institutions, including CDB, to issue cards of that community. In particular, the bank plans to offer its customers 7 banking products of VISA: VISA Electron, VISA Classic, VISA Gold, VISA Platinum, VISA Infinite, VISA Business and VISA Virtual.
JSC Caspian Development Bank (known by its earlier name Kovsar Bank) was founded in 1988. In December 2014 the composition of shareholders of the bank changed and its owner is Synergy Group. That is why in January of this year, the bank changed its name too. The authorized capital is 50.02 million manats. --17D-
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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