The Khachmaz and Shabran regions have received regional branches of the non-bank credit institution FINCA Azerbaijan.
As stated in the press release of the financial agency, the new offices are designed to service 8,000 customers.
The branch in Khachmaz has attracted 3,000 customers in 2 years, bringing its loan portfolio to $ 3.3 million. Its counterpart in Shabran services customers in the Shabran, Khizi and Siyazan regions. For 8 years the number of its customers has reached 5,000 borrowers, who have been granted about $ 6 million.
FINCA Azerbaijan is present in 67 regions of the country, with 150,000 clients. The credit portfolio of the organization is estimated at $ 185 million. --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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