![Most of the assets of NBCO accounts for foreign organizations](https://turan.az/resized/750/500/resize/media/2014/main/081300087025.jpg)
Most of the assets of NBCO accounts for foreign organizations
Total assets of non-bank credit organizations (NBCO) by July 1, were 579,310,000 AZN (+ 6.86% against the beginning of the year).
According to the Central Bank of the Republic of Azerbaijan with reference to NBCO, most of the accounts are on the assets of credit institutions, financed by international humanitarian organizations - 495 800 000 AZN (+ 8.4%), with a total authorized capital of 45,330,000 AZN (+ 6.6%).
Assets of credit unions are 56,180,000 AZN, the total share capital - 21,820,000 AZN. In the first half of 2014 the number of branches of such organizations increased to 194.
According to the Central Bank of the Republic of Azerbaijan, the total registered capital of micro-finance organizations to start the second quarter was at 79.68 million AZN (minus 3.7%), with 206 branches created (+ 6.2%). --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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