the International Bank of Azerbaijan (IBA) is connected to the system of international money transfers Ucuz Para Transferi (UPT).
As Turan was told in the bank, it is the result of signing the relevant partnership agreement with the operator of the Turkish financial institution "Aktif Bank". In the near future the system works in all structural units of the bank, said the source.
Send and receive money through the new system takes just minutes, and switch fee is retained only by sender according to the tariff table. The system covers all 82 provinces in the country, as well as 14 European countries.
International Bank is actively working in the money transfer systems Wester Union, Blizko, Contact, Migom, Xpress-Money, Kart Transfer, Coinstar and IBA-Express. -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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