Non-Banking Credit Organization LLC "Finca Azerbaijan" is planning for this year, to increase its credit portfolio by $ 22.4 million or 15% to $ 175 million.
As reported in today's press conference on Azerbaijan director Manish Sana'a, during the reporting period, the total number of clients can reach 150 thousand persons.
Active credit portfolio of the Company increased during 2012 by $ 35.36 million or 30.2% to $ 152.57 million. In the portfolio micro credits were 99.4%.
For all the time, the company has granted loans totaling $ 231.85 million, including micro-credit - for $ 230.5 million - 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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