Credit organizations of Azerbaijan met 2,826,000 money orders totaling $ 9,900 mln in July 2012. The amount of payments decreased 950,000 and their total turnover decreased compared to the previous month at 267 million manat.
Compared with the corresponding period last year, the number of payments in January-July increased by 5,524,000 58% to 15,035,000, and their volume increased by 11,557 million or 21.5% to 65,281 mln.
In the structure of payment transactions in January-July, the share of large and urgent payments was 1.7% (263 thousand) of the total number and 91.4% (59,685 mln) of the total value. The average size of this category of payments decreased as compared to July 2011 by 18.7% to 192,500 manat, and small and medium size retail payments - by 24.1% to 375.5 manat.
As of August 1, 2012 payment system users were 54 organizations, 50 of which could make large and urgent payments. - 15B -
Economics
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The Union of Chambers of Commerce and Industry (UCCI) of the Organization of Turkic States (OTS) held its General Assembly in Baku on December 26, highlighting dynamic economic growth and deepening integration among member states. Representing Azerbaijan and other OTS member states, business and government leaders discussed trade, investments, and regional connectivity projects.
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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