OJSC Xalq Bank connected to the system of international express money transfers Blizko.
As stated in the system itself, Bank of Azerbaijan has already begun to customer service for sending and payment of remittances through the new system.
Operations within the Blizko implemented in a matter of minutes , with an average commission of transfer to neighboring countries vary in the range of 0.5 % -0.8 % of the amount transferred and charged only to the sender . Agents of the system in Azerbaijan are 21 local banks.
Today Xalq Bank also operates under money transfer systems Western Union, Contact, Migom, Lider, Xpress Money, PrivatMoney, UPT, Monex and Golden Crown . - 15D -
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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