In July, the first time in two years, declined the number of outstanding active cards of Azerbaijani banks.
According to the Central Bank of Azerbaijan, the number of bank cards as of August 1, was equal to 4.808 million, 18,000 less than the previous month. The annual growth was 8.6%.
In January-July cardholders carried 32,129 thousand operations for a total of 4,883 million manat. With the growth of the total number of payments by 8.7% and their volume by 23.7% compared to the same period in 2011, the number of credit card transactions increased by 39.5% to 2,131 thousand, and their turnover - 34.5% to 561 million manat.
The main part of card transactions in the period of the year still fell on ATMs - 27,746 thousand transactions in the amount of 4,279 million manat. Of these, 98.6% provided for operations connected with the withdrawal of cash.
The cards are serviced through 2,195 ATMs and 36,523 POS-terminals. This year, the number of ATMs has increased by 9.6%, while the number of POS terminals has risen 3.2 times.
As of August 1, 2012, 1,225 ATMs and 33,340 POS-terminals were set up in Baku. Service outlets operated 34,989 POS-terminals, including in Baku - 32,463 POS-terminals. - 15B -
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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