Formal increase in the number of ATMs and pos-terminals does not reflect the quality of payment services
By August 1, the number of ATMs installed by banks in Azerbaijan amounted to 2 493 units (+ 2.9% against the beginning of the year).
According to the Central Bank of the Republic of Azerbaijan, the relative preponderance is in the capital – 1 399 ATMs (+ 2.4%), with 1,094 regional offices (+ 3.6%). Despite numerous complaints, the local ATMs are still the means of withholding wages and credits listed on the cards.
There has also been an increase in the number of formal pos-terminals installed at trade and services. Nationwide, by August 1, their number reached 53,988 units (+ 62.2%). And here the advantage is for the capital - 37,189 units against 16,799 in the regions, despite the fact that at the periphery the rise is 3.87 times. Most (97.3%) of all POS terminals are located in the retail sale points - just 52,533 units. --17D-
Economics
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The Green Climate Fund (GCF), an operating entity of the financial mechanism of the UN Framework Convention on Climate Change (UNFCCC) and the body responsible for implementing the Paris Agreement, has included Azerbaijan for the first time in its list of countries eligible for funding.
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The International Telecommunication Union (ITU), the Permanent Mission of the Republic of Azerbaijan to the UN Office in Geneva and the Ministry of Digital Development and Transport organized for the heads of about 30 diplomatic missions accredited in Geneva a special briefing on the initiative "Green Digital Action", which will be presented during COP29 in November in Baku, the Ministry of Digital Development and Transport of Azerbaijan reported.
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As a member of the International Renewable Energy Agency (IRENA) Council, Azerbaijan participated in the 28th meeting of this Council in Abu Dhabi (UAE).
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Azerbaijan’s imports of animal and vegetable fats and oils climbed 23.9% by weight and 16.2% by value from January to September 2024, official data revealed. Despite the uptick in volume, the import cost of these products saw a decrease compared to the same period last year, with the cost per ton of vegetable oil falling by 6.1% to $1,199.6 in 2024, down from $1,278.6 in 2023.
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