Azerbaijani Bank to Enter Georgian Card Market
Azerbaijan, Baku, 1 May / Trend corr. I.Khalilova / The International Bank of Azerbaijan (IBA) is planning to expand its activity in the card market of Georgia by implementing the largest regional projects. Elmar Sadikhov, Director General of the processing centre Azericard, where AIB is 100% owner of the centre, stated that filling stations of the State Oil Company of Aerbaijan (SOCAR) in Georgia will be supplied with POS -terminals of AIB. The first filling station was opened on 25 April. By end 2008, total number of stations will reach18.
"We have plans to develop card business in Georgia, as this sphere has a very good potential. Our bank is financing the Georgian part of Baku-Tbilisi-Kars railway and render service to the workers of Baku-Tbilisi-Ceyhan pipeline," Sadikhov stated.
Individuals engaged in the projects, would be served through the Georgian branch of AIB and would be provided with Visa International MasterCard cards.
AIB is planning to issue 5,000 cards for Georgia
AIB has entered the list of top ten largest banks of Georgia and would enter into the five best banks in the near future, Sadikhov said.
Presently, IBA has emitted1.6mln cards for the Azerbaijani market.
The official rate at 1 May is 0,828 AZN/USD
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