By the decree of the president Ilham Aliyev, the head of the deputy chairman of the Chamber's Board of Directors for the control of the financial markets of Azerbaijan was appointed. She was born in 1973, previously worked as director of the Department of Market Operations of the Central Bank of Azerbaijan. The Chamber was established by the decree of the President in February this year as a legal entity of public law in order to improve regulation and supervision of the securities market, investment funds and insurance and credit institutions. In addition, its function is to control over payment systems, the fight against terrorism financing and legalization of money and property acquired through criminal, increasing the transparency and flexibility of supervision in this area. Since March 10, Rufat Aslanli the chairman of structure is the head of the working group for its creation. --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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