2016 January 14 (Thursday) 12:03:59
From today a priority of purchase and sale of foreign currency will be hotels and airports, as well as those tourist facilities, which receive foreign guests.
Furthermore, according to the decision of the Central Bank of Azerbaijan Republic, it is prohibited to exchange currency outside the head offices, branches and offices of banks.
"In recent days, due to the growth of operations with currency exchange and the central bank has restricted the activities of currency exchange offices stopped for effective and efficient regulation of commercial banks, to strengthen control over operations and optimizing costs," the statement of the regulator said. As the cause of the restriction of the segment quite a large network of banks is reported.
According to the CBA, currently the country has 914 branches and offices of 43 local banks, 458 of which are located in the regions. --17D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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