Number of outstanding active cards of Azerbaijani banks increased in August 2012 by 34 thousand units, reaching 4,842 thousand units. Annual growth of 8.9%.
In January-August cardholders carried 36,590 thousand operations for a total of 5602 million manat. With the growth of the total number of payments by 9.5% and their volume by 20.8% compared to the same period in 2011, the number of credit card transactions increased by 42.2% to 2.507 million, while their turnover - 36.7% to 667 million manat.
The main part of card transactions in the period of the year still fell on ATMs - 31,492 thousand transactions in the amount of 4,874 mln manats. Of these, 98.6% for operations connected with the withdrawal of cash.
Service cards are produced through 2,214 ATMs and 36,514 POS-terminals. For the first half of the year, the number increased 8.6% and for the second - 3.1 times.
As of September 1, 2012 in Baku were established 1,239 and 33,340 ATMs and POS-terminals. In objects service operate 34,972 POS-terminals, including in Baku - 32,455 POS-terminals. - 15B -
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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