Contact system connected to another local bank
OJSC Azer-Turk Bank connected to the system of international money transfers Contact.
According to the report of the system, now the mandrel and receive money via this system are possible in all structural units of the bank.
The commission for transfers within Azerbaijan and to Russia and the CIS countries ranges from 0.75 to 1.5 %, depending on the amount and direction of the country. Transfers are made to unnumbered format - you can get cash at any point of the country, provided at the time. The Contact users also enjoy free of charge SMS service with information on the transfer.
Currently, Azer-Turk Bank is also working within the systems of urgent money transfer Western Union, Migom, Monex and Gold Crown. - 15D -
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- Politics
- 20 November 2013 15:36
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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