BAKU/25.12.13/TURAN : DemirBank offers 4 % discount on the annual interest rate for customers who were born in the year of the horse (1954 , 1966 , 1978 and 1990 ) . The campaign will last until February 1, 2014.
The campaign also provided a 2% discount on the annual interest rate for other clients. Customer may use the discount once. It should be noted that the action applies to all consumer loans other than mortgage and car loans .
DemirBank offers companies and different types of loans - loans for micro and small businesses , mortgages, car loans , loans for employees of education and medicine , for government workers and civil servants , loans for the purchase of furniture and appliances , renovation loans and other consumer loans .
DemirBank, is the first commercial bank in the country , began operations in 1989 . Among its shareholders are major international financial institutions such as the European Bank for Reconstruction and Development and the Netherlands Development Finance Company (FMO). DemirBank ranks from Fitch Ratings at "B " with "stable" forecast and Planet Rating rating at "B " with "positive" forecast . These ratings are among the highest in the banking sector of Azerbaijan. -15D -
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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