2017 July 28 ( Friday ) 17:02:14
- Azerbaijan's Loans Not Repaid in Time
- Strategic Currency Reserves Increased by 0.9%
- IBA Leads in Non-cash Settlements with VISA Cards
- Monopolist in Lotteries Accumulates Profits
- Foreign currencies rates fixed by Central Bank
Baku / 28.07.17 / Turan: In the first half of this year, for loans provided by Azerbaijan to Serbia and Georgia, interest was paid for a total of 10 million 264.3 thousand manat, which is 20.2% of the forecast for 2017, the Chamber of Accounts informs.
The joint venture notes there is no provision in the budget classification for the repayment of the principal amount of loans. Therefore, the amount repaid under these loans is accounted for under the item "miscellaneous income". At the same time, the Chamber does not note the volume of foreign loans repaid in the first half of 2017.
In January-June 2016, 24 million 428.7 thousand manat was paid to the state budget of Azerbaijan for loans provided to the governments of Serbia and Georgia.
This year Azerbaijan continued the international donor policy and provided loans for the amount of 41 million 611.9 thousand manat, which is 80% of the annual forecast. In the previous year, loans were extended to Serbia and Georgia for a total of 106.594 million manat. -08D-
Baku / 28.07.17 / Turan: As of July 1, the volume of the country's strategic foreign exchange reserves amounted to 39 billion 755 million US dollars, which is 0.9% more than for the comparable period of 2016, the Accounting Chamber said.
On July 28 the Chamber unveiled an analysis of macroeconomic indicators and parameters of the execution of the state budget. This year, the Central Bank has increased its reserves by $ 681 million (+ 15.9%), and brought them to $ 4 billion 964.1 million. During this period, the reserves of the State Oil Fund decreased by $ 327 million and made up $ 34 billion 790.9 million at the beginning of July. Part of the currency sold by the Oil Fund was bought by CBA. -08D-
Baku / 28.07.17 / Turan: In the first quarter of 2017, the International Bank of Azerbaijan became the leader in conducting non-cash payments by VISA cards, the bank's website says.
It is reported that in this regard, IBA received a special certificate from the company VISA International. The award was presented to IBA at an event in the Bilgah Beach Hotel with the participation of representatives of the banking sector and VISA partners.
"The International Bank of Azerbaijan was the first in the country to provide non-cash payments services and, without changing traditions, constantly develops this direction. Today, the number of active plastic cards of the International Bank of Azerbaijan is 1.3 million units. The network of ATMs of the International Bank of Azerbaijan has 763 units and is the largest in Azerbaijan. The number of POS terminals of the bank installed in various trade and service points has reached 11,300 units," IBA's electronic resource informs.
It is also noted here that the financial institution constantly develops the electronic banking infrastructure to expand the volume of non-cash payments. The International Bank of Azerbaijan became the first bank in Azerbaijan to introduce contactless payment technologies through VISA PayWave and MasterCard PayPass cards. It was also the first time, together with VISA International, to implement the policy of Zero Liability of the customer.
Information on the products and services of the International Bank of Azerbaijan can be obtained at the official in all 36 branches and 40 branches of the bank, at www.ibar.az, by calling the Information Center on the short number (012) 937, as well as via the official Facebook page www.facebook.com/azerbaycanbeynelxalqbanki/. -0-
Baku / 28.07.17 / Turan: This year, as in the previous one, the state-owned lottery company OJSC Azerlotereya transferred 500,000 manat to the state budget in the form of dividends. Other state financial and non-financial companies did not transfer a single manat to the state, the Accounting Chamber said.
In the state budget for the current year, it was projected to deduct AZN 1 million 682 thousand from Azerlotereya OJSC in the form of dividends. According to the financial report, its net profit for 2016 amounted to 2 million 691.8 thousand manat. As of January 1, 2017, the undistributed profit of the JSC exceeds 7.3 million manat, part of which is kept in the bank in the form of deposits. Only in 2016, interest income on these deposits amounted to 351.4 thousand manat.
Shareholder of OJSC Azerlotereya on behalf of the state is the Ministry of Economy. "The shareholder decides on the distribution of profits. How to dispose undistributed profits is decided by the Ministry of Economy," said the free auditor Yasin Shirinov, who conducted an independent audit of Azerlotereya JSC for 2016. -08D-
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