“In 2015, the revenues of the Azerbaijani population have nominally increased compared to the same period last year by 5.7 percent, reaching 41.7 billion manats,” the State Statistics Committee said. “The average per capita income increased by 4.5 percent, reaching 4,380.1 or 365 manats per ...

Asian Infrastructure Investment Bank launches first international fund in Beijing

16.01.2016 [20:48]
The Asian Infrastructure Investment Bank (AIIB), the first fully fledged international organization led by China, held its formal inauguration on Saturday at the Diaoyutai State Guesthouse in Beijing with 57 member nations including Azerbaijan in attendance ...

SOFAZ to put up $200 mln for auction

15.01.2016 [11:20]
State Oil Fund of Azerbaijan (SOFAZ) continues currency sale in 2015. According to SOFAZ, the Central Bank of Azerbaijan will hold an auction on January 15, 2016. The Fund will put up $200 mln for the auction. All banks may participate in the ...

CBA to establish automated monitoring system

15.01.2016 [11:09]
The Central Bank of Azerbaijan has announced a tender for creation of the automated monitoring system during transactions with foreign currency. The tender will be held at the CB administrative office on March 1, 2016. The tender participation fee is AZN 200. The foreign participants can pay in US dollars. ...

Chinese top leaders to attend AIIB opening activities

08.01.2016 [16:44]
Chinese President Xi Jinping and Premier Li Keqiang will attend activities marking the opening of the Asian Infrastructure Investment Bank (AIIB), according to Xinhua news agency. Chinese Foreign Ministry spokesperson Hua Chunying told a regular press briefing ...

International Bank of Azerbaijan reimburses cardholders for the expenses incurred after the currency rate change

08.01.2016 [13:29]
The International Bank of Azerbaijan reimburses its clients, holders of the plastic cards in manats, for the expenses incurred during the operations in foreign currency after the switch to the floating exchange rate of manat ...

International Bank of Azerbaijan upgraded banking solution

07.01.2016 [12:58]
The International Bank of Azerbaijan (IBA) upgraded to new Oracle Flexcube Universal Banking Solution 12.0.3, to improve its efficiency. This version of Oracle Flexcube platform is implemented in the leading financial institutions of the world ...

Asian Infrastructure Investment Bank officially established

27.12.2015 [10:13]
An Asian Infrastructure Investment Bank has been officially established in Beijing. Azerbaijan is one of the founding members of the bank. The bank, which was established on the initiative of China ...

Azerbaijan SSC to put into operation automated trading and settlement system in securities market

18.12.2015 [11:36]
The Azerbaijan State Securities Committee recently is to put into operation automated trading and settlement system in the country’s securities market. This was stated by Azerbaijan State Securities ...

MONEYVAL approves voluntary report on progress submitted by Azerbaijani government

15.12.2015 [10:42]
As earlier reported, the 49th plenary session of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) was held on December 8-11 in Strasbourg ...

TuranBank receives AMCHAM CSR 2015 Excellence Award

10.11.2015 [21:05]
TuranBank has been named the third place winner under the nomination “Volunteering” of the AMCHAM CSR 2015 Excellence Award organized by the American Chamber of Commerce in Azerbaijan. ...

TuranBank receives $3.5 loan tranche from IFC

30.10.2015 [18:08]
TuranBank has completed the receipt of another loan tranche from the International Finance Corporation in the amount of $3.5 million. The bank will use the loan to expand its financing of micro, small and medium enterprises ...

Chairman of Azerbaijan Central Bank meets WB Vice President for Europe and Central Asia

24.10.2015 [21:40]
Chairman of the Central Bank Elman Rustamov has met the World Bank's newly-appointed Vice President for Europe and Central Asia Cyril Muller. They discussed the current state of the World Bank`s credit portfolio for Azerbaijan, as well as priority areas of future cooperation. ...

Pasha Bank becomes first member of Factors Chain International from Azerbaijan

13.10.2015 [19:00]
PASHA Bank has become the first member of Factors Chain International (FCI) from Azerbaijan. The bank will offer international factoring services to the companies carrying out export and import operations. ...

AccessBank launches its new Internet Banking service – "my Access"

12.10.2015 [19:57]
Following several months of intensive project work AccessBank has successfully completed and launched its new innovative Internet Banking service "myAccess" which is now available to its clients. The new service "myAccess" has been developed jointly with a leading ...

Minister Mahmoud Vaezi: International North-South Transport Corridor meets national interests of our countries

12.10.2015 [19:19]
The international transport corridor North-South, passing through Azerbaijan and Iran, has a great advantage over other alternative international transport corridors, Minister of Communications and Information Technology of Iran Mahmoud Vaezi told local press. ...

Central Bank, International Card Organization "MasterCard Worldwide" discuss possibilities of cooperation

09.10.2015 [12:37]
The Central Bank and international card organization "MasterCard Worldwide" discussed issues on possibilities of cooperation and strategic directions on the development of non-cash payments in Azerbaijan. According to the Central Bank, the chairman of the Bank Elman Rustamov met the delegation led by President of "MasterCard" system in ...

ADB forecasts 2.8% increase for Azerbaijan's GDP in 2016

05.10.2015 [21:00]
“Azerbaijan's GDP is expected to grow by 3% in 2015, and 2.8% in 2016,” the Asian Development Bank said in the Asian Development Outlook. The report notes that forecasts for positive surplus of Azerbaijan's balance of payments will be nearly 6% of GDP. This indicator will be 8 % for 2016 ...

International Bank of Azerbaijan and EIB sign €50 mln loan agreement

17.09.2015 [21:31]
The European Investment Bank (EIB) is lending EUR 50 million to the International Bank of Azerbaijan (IBA) to finance projects promoted by SMEs and midcaps in the country. The EU bank’s loan will support projects in the priority areas specified by the EIB external lending mandate, including the development of the local private sector ...