JSC Gunay Bank plans in the first quarter of this year to connect to the system of international money transfer Contact.
As they told Turan in the bank, the consulting with the clearing bank - Russian credit institution JSC RUSSLAVBANK is at the final stage.
Sending and receiving money transfers within the Contact takes minutes and covers about 100 countries. Commission for services of money transfer is set to 0.75%, depending on the amount and the destination country. The maximum amount of the transfer of 350 000 or 10 000 USD / EUR. System partners in Azerbaijan are 34 local banks.
Currently Gunay Bank works actively in the money transfer systems Western Union, Caspian Money Transfer and Migom. -15B -
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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