A delegation of the China Export & Credit Insurance Corporation (Sinosure), headed by Executive Director Wang Yi, held a business meeting in the International Bank of Azerbaijan (IBA), the bank said in a message. As part of the meeting, Abbas Ibrahimov, acting chairman of the IBA board, spoke about the IBA’s activities, its role in…
By 2019 Azerbaijan plans to have eliminated dependence on imported butter almost completely, Samir Eyyubov, Chairman at Azerbaijan Milk and Dairy Producers and Export Association, declared. “Azerbaijan is heavily dependent on the import of butter. The state intends to resolve this issue. To this end, until the middle of 2019, two new enterprises will be…
The digitalization of the banking sector in Azerbaijan is inevitable, Ibrahim Alyshov, Chief Executive Officer of the Financial Markets Supervision Chamber, said on May 17. He noted that this goal was one of the priorities in the Strategic Roadmap for the Development of the Financial Market. “The digitalization of the country’s banking market is one…
Azerbaijan’s cargo airline Silk Way West Airlines has purchased two additional Boeing 747-400 aircraft, as well as expanded its flights in European direction. Last week the Azerbaijani airline received one cargo 747-400F, previously owned by Malaysian Airlines, and the second one will be brought in June. Silk Way West also began in April to fly…
Kapital Bank will have launched its first virtual branch by the end of this year, Deputy Chairman of the Management Board of the Bank Nahid Zeynalov said at the presentation. According to Zeynalov, today Kapital Bank is the largest in the country by number of branches. The bank has over 100 branches and offices in…
Azerbaijan plans to increase the wine exports 5-fold by 2025, according to the State Program for the Development of Winemaking in Azerbaijan in 2018-2025, approved by President Ilham Aliyev on May 3. The State Program reads that winemaking is one of the profitable and historical spheres of the agro-industry. According to the statistics, 210 wineries…
PASHA Bank intends to bring its loan portfolio to 2 billion manats by 2020, Taleh Kazimov, chairman of the Board of PASHA Bank, said at a press conference on May 1. He said that by the same period, it was planned to have increased the value of assets to 5.2 billion manats. Speaking about the…