The Central Bank of Azerbaijan held a meeting between the First Deputy Chairman Alim Guliyev and the President of the international payment card organization China Union Pay Shi Wen Chao.
The meeting discussed possible ways for China Union Pay to participate in the development of payment cards. The meeting identified the people on both sides, who will coordinate the issues of bilateral cooperation.
China Union Pay is an issuer of payment cards in more than 50 countries and provides acquiring (acceptance of payment cards for payment) in more than 150 countries.
In the press release of CBA on this issue it is said that the Central Bank is cooperating with international payment card organizations for the development of payment cards market, the application of innovative technologies and the introduction of payment and payment systems.
In 2014, the country conducted 79,229,000 transactions with plastic cards for 11 869 000 000 manats, which is 15.3% more than in 2013. The turnover is more than 6 million payment cards. Payment cards are considered primarily as a tool for funding. -0-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review