Revenues through money transfer systems in 2.2 times the amount of shipments

BAKU/14.01.14/TURAN : Turnover of urgent money transfers in Azerbaijan's banking system was in January-November 2013 the equivalent of 1930.6 million ($ 2.5 billion ) . Compared with the corresponding period last year is more than 317 million or 19.6%. The volume of income is 2.2 times higher than the sum of shipments, which in turn increased by 31% compared with the same period last year.

In November, turnover amounted to 220.4 million manat , an increase compared with last November by 33%.

According to the Azerbaijani Central Bank , the average amount sent increased from AZN 582.3 in January to 818.6 in November, and the average sum received increased from 574,8 to 689,4 manat. The number of sent transactions grew from 66 000 to 88 200, and received - from 156,300 to 214,900 .

The total number of recorded remittances during the period equal to 3,192,800 , including those received - 2,308,100 .

Azerbaijani banks currently use the services of such systems international urgent money transfers as Western Union, Coinstar, XpressMoney, Contact, Migom, Leader, Blizko, PrivatMoney, UPT , etc. Until recently , Express Mail actively functioned in Azerbaijan market , but due to activities in the areas occupied by Armenians cooperation with it was stopped. -15B -