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AZEL to install Progress software in Nakhchivan Bank

08 September 2008 16:37 (UTC +04:00)

Baku. Vugar Mustafayev â€“ APA-Economics. Azerbaijan Electronics (AZAL) has won a contract to install a Progress banking software in Nakhchivan Bank.
Progress banking software is based on Oracle platform.
This software was also used at Bank Avrasiya, Royal Bank of Baku, Eurobank, Azerbaijan Credit Bank, Gandjabank, Debut Bank, Atra Bank, Mughan Bank, Parabank and others.
The National Bank of Azerbaijan granted a license to Nakhchivan Bank last month.
The bank was registered by the Ministry of Taxes in May.
The bankâ€™s authorized capital is AZN 10 million, the number of shares is 1 million and the value per share is AZN 10.
Nakhchivanbankâ€™s charter members are 7 individuals, namely Talibov Vugar Ilgar (10%, 100 000 shares), Sultanova Sevil Rza (10%, 100 000 shares), Abbasov Vugar Zakir (30%, 300 000 shares), Emin Uchar Rasul (Turkish citizen, 30%, 300 000 shares), Teymurov Vughun Bebir (5%, 50 000 shares), Aliyeva Tunzale Meydan (5%, 50 000 shares) and Talibov Rza Vasif (10%, 100 000 shares).
The bankâ€™s Supervisory Board members are Mirdjavadova Khuraman Abbas, Kazimov Vasif Ali and Babayev Alidadash Adil.
The bank is based in 3, N. Aliyev Street, Nakhchivan.
Nakhchivanbank is the second regional bank in Azerbaijan after Gandjabank.