JSC Bank BTB announced the withdrawal from circulation and the elimination of 5,600 shares of the total amount of 5.6 million manat. The press service of the bank does not comment on the reduction of the authorized capital for Turan.
Liquidation of the bank's shares occurred at the end of March this year. How their liquidation was done and whose shares they were is not reported.
The bank does not report its shareholder structure. It is well known that the control of Bank BTB is carried out by Nigar Mehdiyeva, a family member of the Azerbaijani Presidential Administration head Ramiz Mehdiyev.
Recall that a few days ago Bank BTB announced the attraction a subordinated debt in the amount of 8.5 million US dollars to its capital in Mrach 2016. Thus, the total capital of the bank is 61.7 million manat. 08B
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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