VTB Bank (Azerbaijan) completed transference of operations to the processing center «AzeriCard». According to the bank, the transition process began in late July in accordance with the recommendation of the Central Bank. "By the recommendation of the Central Bank of Azerbaijan, we carried out a project of migration to the local processing center. The transition process went smoothly, as it was planned. Currently activities of all payment cards and terminals across the network are supported by the processing AzeriCard," said Chairman of the Board of VTB Bank (Azerbaijan), Yuri Yakovlev. Previously the VTB Bank (Azerbaijan), which is a subsidiary of VTB Group, has collaborated with the Russian processing center "Multicard". Transference activities of payment cards and a network of terminals to a national processing center was carried out in accordance with the "Rules of the issue and use of payment cards.» --0--
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review