Azerbaijan, Baku, June 22 / Trend , N.Ismaylova /
By the end of June, the founders of Milli Kart LLC will make a final decision on the payment of the authorized capital with the participation of the European Bank for Reconstruction and Development (EBRD), the Executive Director of the Processing Center Jalal Orujov said on June 22.
The Bank allocated $500,000 for the purchase of 10 percent share in the capital of the Center.
He said that the budget for capitalization of Milli Kart is available, but legal issues must be solved, after which, taking into account the payment of the share of the EBRD and other shareholders of the Center, Center's authorized capital will increase from the current four to five million manat.
To avoid reducing their share in the capital of the Center, the existing founders of Milli Kart will participate in recapitalization of their package.
The European Bank also provided $250,000 technical assistance to the Processing Center.
Currently, the minimum amount of participation by banks in the capital is one percent, and maximum - 10 percent.
Founders of the Center are Atabank, Azerdemiryolbank, AzerTurkbank, Bank of Baku, Azerbaijan Senayye Bankasi, Debutbank, Amrahbank, Xalq Bank, Credo Bank, Access Bank, ParaBank, RabitaBank, Bank Respublika, Bank Standard, Texnika Bank, Turan Bank, UniBank and Zamin Bank.
Official rate on June 22 is 0.804 AZN/USD.
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