According to the Central Bank of Azerbaijan, from January 1 to March 1, the total number of bank customers decreased by 235,355 people (minus 4.12%) to 5,481,030 people).
The vast majority (98.46% or 5,396,922) of customers refers to individuals, mainly the recipients of debts on consumer loans, and only 84,108 customers are legal entities.
At the same time the number of customer accounts increased from 1 March 2015 to 1 March 2016 by 10.5% - up to 15,687,705 (minus 3.34% to January 1). Most of them (12,361,678 or 78.8%) are current accounts, 2,906,969 or 18.5% - credit accounts, and 419,058 or 2.67% - deposit accounts. --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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