Total number of active cards issued by JSC "Mugan Bank" increased during the nine months of the year for 1949 units or 20.2%, reaching 11,561 units.
As reported in the bank during the reporting period, the bank has mounted an additional four ATMs, bringing the total number of the equipment up to 55-pieces. The number of POS terminals remained at 659-ti.
Mugan Bank is a member of international payment systems Visa International and MasterCard issuer of cards and Visa Electron, Classic, Gold, and MasterCard Standard, Gold, Platinum, and Business. - 15D -
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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