JSC Azer-Turk Bank after the departure of the senior managers to the International Bank of Azerbaijan has faced another personnel change.
As the bank’s website reported, new directors have been appointed to two departments of the bank. Kamran Akhundov became the director of department on work with plastic cards instead of Jeyhun Rahimov and Elchin Sharifov was appointed director of the department for work with cash instead of Farid Orujov, who became CEO of the bank.
Azer-Turk Bank was established May 25, 1995. Its shareholders are the State Committee for Property Affairs (the proportion - 75%), Turkish TC Ziraat Bankasi (12,37%), two local insurers - AzRe (6,55%) and Qala Life (5%) and Ziraat Bank International AG (1.08%) --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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