Most of IBA E-commerce Operations Carried Out by ATMs
In the past year, the share of e-commerce in the IBA network service amounted to 51.87 million AZN by 2,231,816 operations.
According to the report on the IBA website, leaders in this segment are operations through ATMs of the bank (1,609,684) and mobile banking services (596,625). Much less (24,075) are operations in Internet Banking, and around 757 - in the so-called banking kiosks.
On 28 April the number of active plastic cards of IBA was 1,248,745, serviced by 737 cash machines across the country. In addition, the bank hosts more than 11,000 POS terminals in the retail trade network.
JSC IBA with a capital of 1 billion 141.3 million AZN has operated under the license of the Central Bank of Azerbaijan since 1992. Its main shareholder (51.07%) is the Government of Azerbaijan in the Finance Ministry's face, and the remaining 48.93% is held by minority shareholders. --17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review