Media review for September 5

The dismissal of the head of the BTA department, a decrease in interest rates on deposits in banks, the arrival of new taxis in Baku are the topics of today's media.

The site “Yenisabah.az” writes about the dismissal of the head of the BTA department, Hikmet Babayev. The reason  is his statement on September 2 that taxi services should  use only wealthy people. This statement caused outrage in society and on September 4, Babaev was fired. BTA did this because the public expressed strong indignation. BTA stated that what Babayev said was his personal opinion.

The website "Müsavat.com" writes about the reduction of interest on deposits by banks. Since June, interest rates have been increased by 1-2%, and now they are decreasing.   So, from June 1, the annual interest rate was increased from 10% to 12%. And the upper level of the annual interest rate of deposits in foreign currency was kept at the level of 2.5%.     In the current situation, banks prefer to cut interest rates. On the other hand, the law "On full insurance of deposits" expires at the end of this year and is not expected to be renewed again. Experts note that in order to reduce credit interest, banks are making deposits cheaper. Otherwise, it is impossible to reduce interest on loans.