Number of outstanding active cards of Azerbaijani banks increased in November 2012 to 106 000 units, reaching 5,071,000. Annual growth was 11.8%.
In January-November, cardholders carried 51.187 million transactions totaling 7891 million manat. With the growth of the total number of payments by 11.6% and their volume by 22.2% compared to the same period in 2011, the number of credit card transactions increased by 45.8% to 3.713 million, while their turnover - 38.6 % to 969 million manat.
The main part of card transactions in the period of last year still fell on ATMs - 43 990 thousand transactions in the amount of 6826 manats. Of these, 98.6% for operations connected with the withdrawal of cash.
Service cards are produced through 2240 ATMs and 36,482 POS-terminals. For the period reported, the number of ATMs increased by 6.5% and the number of POS terminals grew 2.9 times.
As of December 1, 2012 in Baku there was established 1,249 ATMs and 33,333 POS-terminals. In objects service operates 34 781 POS-terminals, including in Baku - 32 204 POS-terminals. - 15V -
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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