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
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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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