JSC International Bank of Azerbaijan has closed credit debts of the servicemen who became martyrs as a result of operations to prevent provocations by the Armenian armed forces in early April.
According to the information on the bank's website, inspection and closing of the debts were based on personal references from the martyrs' families, according to its affiliates.
The staff of IBA brought condolences to the families of martyrs who died in the struggle for independence and territorial integrity of Azerbaijan and wished the wounded a speedy recovery and return to the service of the motherland.
OJSC International Bank of Azerbaijan with a capital of 1 billion 141.3 million AZN has operated under the license of the Central Bank of Azerbaijan since 1992. Its main shareholder (51.07%) is the Government of Azerbaijan, represented by the Ministry of Finance, and the remaining 48.93% is owned by numerous minority shareholders.-- 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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