Our main goal is to foster economic relations between Azerbaijan and Turkey, says banker Mehmet Sami Acarözmen

Our main goal is to foster economic relations between Azerbaijan and Turkey, says banker Mehmet Sami Acarözmen
# 25 May 2007 10:53 (UTC +04:00)
- It would be interesting to know about the history, achievements and particularity of Azer-Turk Bank.
- Azer-Turk Bank OJSC was established by Turkey’s T.C. Ziraat Bank and Azerbaijan’s Agrarian-Industry Bank in 1995. The bank is owned by T.C. Ziraat Bank (46%), Agrarcredit Bank (46%), Germany’s Ziraat Bank International AG (4%) and Azerbaijan’s Turanbank (4%). Azer-Turk Bank is one of the most trusted banks in Azerbaijan. The particularities include: Azer-Turk Bank is joint bank of two nations- Azerbaijan and Turkey- which target is to further encourage economic relations between the two countries. Second, the 144 year-old T.C. Ziraat Bank is the shareholder of Azer-Turk Bank and this factor makes it possible to specialize in international transactions. Third, our services are of higher quality and low-priced. Fourth, every year at least our three bank officers are sent to Turkey to study a year at T.C. Ziraat Bank School in Turkey.
- Do you have plans to expand the branch coverage in Baku and regions of Azerbaijan?
- As you know, Azer-Turk Bank established a branch in Baku in June last year. This branch is located at 140, Samad Vurgun Street. Within the scope of the State Program for Social-Economic Development in Regions, we intend to open branches in some regions. By this year’s end, we will likely open branches in Gandja and Zagatala.
- Which money transfer systems does Azer-Turk bank use and do you have any plans in this field?
- Azer-Turk Bank is a member of Western Union and XPress Money international money transfer systems. We are planning to be a member of Migom system by the end of 2007.
- How is your attitude to the bank capital minimum limit increased by the National Bank of Azerbaijan?
- The National Bank has set the minimum limit for the banks’ aggregate capital at AZN 8.2 million and will increase the limit to AZN 10 million in July. Of course, the financial system is built on the principles of confidence and trust. One of the main elements in the trust is financial resources. This year EU banks will convert to BASEL-II. For cooperation with European banks Azerbaijan’s bank organizations have to own stronger capital and international ratings. I think the National Bank of Azerbaijan is pursuing a right policy which paves the way for international integration.
- What about ATM and POS-terminal coverage?
- We have installed two ATMs in Baku. besides, we have procured 50 POS-Terminals to install in the bank branch and trade facilities. Completion of Azer-Turk Bank’s associative membership process to MasterCard International will further expand the activities in this field. We are planning to expand our coverage.
- What is your opinion of audits and international ratings?
- Deloitte&Touche audited Azer-Turk bank in 20o4 and 2005 and KPMG in 2006. We don’t have a plan to get any international rating this year. But, as I said, BASEL II standard will promote international ratings assignment to Azeri banks. This factor enables to get more inexpensive financial resources.
- Does Azer-Turk bank have plans to issue securities on the international market?
- We are not planning to issue any securities at present.
- What is your development strategy and plans for forthcoming years?
- The strategic plans include opening new branches in regions, branching out with new banking services, keep up service quality etc. /APA-Economics/

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