Commercial Bank of Azerbaijan has offered its clients new type of deposit "TƏTİL".
A source from the bank said that each client of the bank that placed money into this deposit will be paid interests beforehand. Thus, if clients placed as minimum 5000 AZN/USD/EUR on this deposit, they will be paid 5% interest rate for 3 months, 7% for 6 months and 10% for 12 months beforehand.
The deposit interest rate is calculated on the following formula:
3 months – 100,000 AZN x 5%/12 months x 3 months = 1250 AZN
6 months – 100,000 AZN x 7% / 12 months x 6 months = 3500 AZN
12 months – 100,000 AZN x 10% = 10,000 AZN
The service is available at the branch offices of Bank of Azerbaijan in Baku, Lenkoran, Guba, Sheki, Nakhchivan, Ujar, Yevlakh, Zardab and Sumgait.
Bank of Azerbaijan is the member of the Deposit Insurance Fund. For additional information contact phone number 175.—0—
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review