Finance

Finance

Mugan Bank holds the first draw on lottery bonds

15 December 2009 11:30 (UTC +04:00)

Baku. Elnur Huseynguliyev-APA-ECONOMICS. Azerbaijan-based Mugan Bank has held the first draw on the lottery bonds at its head office in Baku on December 15.

Shaig Abdullayev, Member of the Bankâ€™s Supervisory Board, gave information about the lottery bonds.
According to him, the placement of Mugan Bankâ€™s 30 October issue of interest-bearing coupon bonds registered with the State Committee for Security on August 14 commenced on October 30.

Face value per bond is 50 manat. The bonds were issued by the bank for 10 years with a yield of 2% per year. Anyone can buy bonds and get a chance to win 10 000 manat.
If bonds donâ€™t win, you can return them to any branch of the bank and get your money back.

The serial number of each bond is drawn every 45 days and gives a chance for the following prizes: 10 000 manat (2 pcs.) 5 000 manat (5 pcs.), 2 500 manat (10 pcs.), 1 000 AZN (18 pcs.), 500 manat (29 pcs.), 250 manat (30 pcs.), 100 manat (6 pcs.).

Then, the lottery drawing committee drew the first 100 wins. Holder of bond N 154594 won 10 000 manat. Other wins were from 10 manat to 100 manat.