According to the recommendation of the Financial Market Supervision Authority (FIMSA), over the nine days-off on the Novruz holidays, more than 100 branches of 30 banks will operate in a strengthened mode.
The recommendation of FIMSA says that in connection with the holiday an increase in the flow of tourists to the country is expected. To facilitate currency exchange, FIMSA recommended work in a strengthened mode at the capital branches of banks and branches in the tourist regions of the country.
Sixteen branches of seven banks in Baku and Gabala will work around the clock.
In addition, bank branches in Sumgait, Khirdalan, Ganja, Lankaran, Astara, Sheki, Khachmaz and Nakhchivan will serve customers.
During holidays there will be a special monitoring group of FIMSA, which can be contacted in case of problems. -----71D
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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