NBC Bank Becomes Partner of Information and Billing Center
NBC Bank has become a new partner bank of the Information and Billing Center of the Ministry of Communications and High Technologies of Azerbaijan in the field of electronic certificates for private data about citizens.
According to the Center, it is the 12th in a row cooperation for it. Previously, the body established relations with the Bank of Baku, Uni Bank, Access Bank, Mugan Bank, Bank Respublika, Bank BTB, AG Bank, Rabita Bank, the International Bank of Azerbaijan, Express Bank and Demir Bank.
The service provided by the Center allows citizens to electronically receive certificates from 7 government agencies. According to the leadership of the Ministry of Communications, the number of service and government organizations will be expanded. --17D-
Economics
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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.
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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.
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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.
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"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.
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