The youngest bank of Azerbaijan starts in the local financial market with 50 million AZN of share capital. We are talking about JSC Ziraat Bank Azerbaijan (a branch of wealthy Turkish Ziraat Bankasi).
An emission in such an amount was recorded by the State Committee for Securities (SCS). The prospect of primary issue of shares was registered on 2 April. The emission is divided into 50,000 shares with a par value of 1 thousand manat per security.
Judging by the possibilities, the stock market will mark the redemption of the securities on these days.
Recall, the Central Bank of AR issued a license to Ziraat Bank Azerbaijan for a full amount of banking services on December 30, 2014. --17D-
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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