Today was the presentation of the re-branding of the processing center Milli Kart.
According to the executive director Jalal Orujov, the innovation associated with the need for competition in the segment.
Consultant of the company and head of Dunlop Consultancy, John Dunlop announced the "death" of traditional banking in Azerbaijan and has advised local banks to provide as many services not being equaled only by corporate.
Limited Liability Company "Milli Kart" was established in July 2006, the 18-country banks. In 2010, a shareholder of the processing center with a 10% share was the European Bank for Reconstruction and Development (EBRD).
Milli Kart with a registered capital of 5.5 million manat provides clearing and other transactions with credit and debit plastic cards, simulated by local banks.
The company provides a wide range of quality services with the ability to improve the quality and efficiency of cash and non-cash transactions.
The appeal has more than 200 million cards issued by the center, the majority of which - the credit card. - 17D-
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- Politics
- 22 May 2013 17:38
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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