JSC «Khalq Bank» intends to improve the risk management system. According to the tender announcement of the bank (http://www.xalqbank.az/az/bank/bank-in-life/kiv-about-bank/news/asc-xalq-bank-ac-q-tender-elan-edir-1), applicants must demonstrate in three phases the ability to analyze the current system of risk management in the bank, to match it with the best practices, prepare a target model with the optimal variants of its application in the real world. The Bank accepts proposals from consulting firms to April 30, 2016. The Bank will determine the winner of the tender on May 30, 2016.
JSC «Khalq Bank» with registered capital of 211.6 million AZN operates under license from the Central Bank December 30, 2004. Shareholders are : OOO «Ideal Business Ko» (50%), EuroStandard LLC (33,85%) Amal Invest Group (16,15%). --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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