Bank of Azerbaijan to join MasterCard

Bank of Azerbaijan to join MasterCard
# 17 December 2008 07:52 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Bank of Azerbaijan will make available MasterCard services as from early 2009, said Khayal Sherifzade, chairman of the bank.
He added that the required documents of application have been sent to MasterCard for membership.
“We have done all the work we have to. We have received a reply from MasterCard. Technical issues will soon be solved too,” he added.
MasterCard will be the first international payment system Bank of Azerbaijan joined.
As of October 1, Bank of Azerbaijan’s assets stood at AZN 110.384 million, loan portfolio at AZN 90.121 million, deposit portfolio at AZN 42.503 million, total capital at AZN 20.684 million and authorized capital at AZN 14.635 million.
Owned by NEM Holding and two individuals, Bank of Azerbaijan has been in operation since 1993. The bank operates 18 branches, 35 bureaux de change, 22 ATMs and 122 POS-terminals.
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THE OPERATION IS BEING PERFORMED