The number of outstanding active cards of Azerbaijani banks increased in September 2012 by 78 thousand units, reaching 4.92 million units. Annual growth was 10.3%. Thus, for every 1,000 people (under age) in the country have an average of 820 active payment card.
In January-September, cardholders carried 41,051 thousand operations for a total of 6,321 million manat. With the growth of the total number of payments by 8.7% and their volume by 20.1% compared to the same period in 2011, the number of credit card transactions increased by 41.2% to 2.866 million, while their turnover - 35.3% to 766 million manat.
The main part of card transactions in the period of the year still fell on ATMs - 35,510 thousand transactions in the amount of 5,493 mln manats. Of these, 98.6% were operations connected with the withdrawal of cash.
Service cards are processed through 2,224 ATMs and 36,702 POS-terminals. For the first year, the number of ATMs increased by 8.2% and the number of POS terminals - by 3 times.
As of October 1, 2012 in Baku was established 1,224 ATMs and 33,549 POS-terminals. In objects of service operate 35,039 POS-terminals, including 32,453 POS-terminals in Baku. - 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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