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
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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