DemirBank started a new campaign on money transfer system UPT
OJSC DemirBank introduced a new campaign on customers' money transfers to Turkey - UPT.
During the campaign the commission for cash transfers to Turkey of U.S. $ 10 000 or 10 000 euros will be only $ 5 or 5 euros respectively. The promotion will be valid until January 15, 2014.
It should be noted that customers can carry favorable term remittance by UPT system for up to 10,000 U.S. dollars or euros for just 1 minute. You can make a transfer to more than 4,000 points in Turkey.
Customers sending or receiving remittance in an amount not less than 500 AZN / USD / EUR or 15000 RUR, get a gift card for mobile telecom payment in the amount of AZN 1. If the transfer amount is not less than 2000 AZN / USD / EUR or 60000 RUR, the customer receives a gift payment card in the amount of AZN 2. - 15D -
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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