As reported in the bank, after the registration of the shares of the prospectus will be available at the Baku Stock Exchange.
At present, the total capital of the bank is 45.9 million manat , respectively, after placement of the issue , he will be 50 million manat.
Increase in the authorized capital of the bank aims to meet the requirement of the Central Bank of Azerbaijan dated July 25, 2012 about bringing the minimum total capital of existing banks to 50 million manat to the first of January 2014. After the share issue the total capital of the bank will comply with the request of the Central Bank, they noted in the bank .
Turanbank has had effect on the banking market since the year 1992 . Its shareholders are 21 individuals and 5 legal entities. - 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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