Started work on the basis of resolution of the CBA under the number 242/4 branch number 1 of "Transcaucasus Development Bank" at St., Baku. A. Guliyev 98.
According to the Bank (http://www.cdb.az/index.php?cat=dynamic&form=91&article=12), this was due to the expansion plans of the capital's branch network and in connection with the liquidation of the branch number 1 "Olympus".
This is the fourth branch of the bank in the country and the second - in Baku. It will provide customers a full range of banking products and services (account opening, deposit, issuance of consumer, financial and business loans, utilities, mobile money transfers, booking and issuing plastic cards, currency exchange, etc.).
The Bank operates under license number 242 of April 7, 1997, issued by the CBA.
Of "Transcaucasus Development Bank" was founded in April 1996 in order to accelerate economic and social development of the countries of the Caucasus, with the assistance of enterprises, banks, organizations and citizens of Azerbaijan, the U.S., Germany, Georgia and Russia.
The authorized capital - 30.2 million manat to 1 January 2013 - split between physical (99.72%) and legal entities. - 17D-
Economics
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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.
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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.
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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.
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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.
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