Three companies associated with Umico under liquidation

Two companies are being liquidated in Azerbaijan.

SOFAZ budget has changed - Presidential Decree

President Ilham Aliyev has amended the decree from December 30, 2022 "On the budget of the State Oil Fund for 2023".

Central Bank of Türkiye announced increase in key rate

The Central Bank of Türkiye has raised its key rate from 8.5% to 15% as part of measures to combat crisis phenomena in the country's economy and tighten monetary policy.

Rashad Orujev: We cannot keep accurate statistics on amount of transactions in electronic money market

Today, Azerbaijan does not keep accurate statistics on the amounts of transactions in the electronic money market.

Foreign currency sales declined by 42.64% at currency auctions of Azerbaijan

In the 1st half of 2023, currencies for $1.57 bn were sold at currency auctions held by the Central Bank of Azerbaijan jointly with the State Oil Fund

Citizens have right to request certain information from banks – Statement

Demand of banks at currency auction decreased by 13%

As a result of the auction, the weighted average exchange rate of the manat was formed at the level of 1.7000.

Over 5 years, number of card transactions has increased 12-fold

Currently, Azerbaijani citizens have 13.6 million payment cards, including 86.6% of debit cards and 13.4% of credit cards.

Azerbaijani manat rate is under pressure from rise in prices

The Azerbaijani manat exchange rate is under pressure from the rise in prices.

Compensation to be paid for erroneous payments

The payment service provider must execute the payment order no later than the next business day from the date of its acceptance for execution.

Azerbaijan to allow issuing electronic money

The issue of electronic money will be permitted in Azerbaijan.

Central Bank currency rates for 22 June

Azerbaijani manat rate has dropped to the euro and to the Turkish lira, while is stable to the US dollar and to the Russian ruble.

Mastercard enters the cryptocurrency market

Lufthansa to sell AirPlus to Swedish company for €450 million

Lufthansa is going to sell its corporate payment service provider, AirPlus.

Cash dollar purchase by banks exceeds sale first time in last 5 years

Central Bank makes a decision on discount rate

Central Bank currency rates for 21 June

Azerbaijani manat rate has fallen to the euro, while is stable to the US dollar, to the Turkish lira and to the Russian ruble.

Allocation of finances for financial and insurance activity has increased

The finances in the amount of AZN 76.8 million were allocated for financial and insurance activities in Azerbaijan for Jan-May 2023

Central Bank head: House purchase in Azerbaijan is possible for 10-11 years of income

Real estate is considered the most valuable asset that we have.

Banks increase demand at currency auction 2.2-fold

As a result of the auction, the weighted average exchange rate of the manat was formed at the level of 1.7000 AZN/USD.

Accounts Chamber: Events in Ukraine affect country's income from oil & gas transportation

In the reporting year, income (transit fee) of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) from transportation of oil and gas through the country amounted to $4.2 million or AZN 7.2 million.