Azerbaijan, Baku, Nov 29 /Trend I. Khalilova /
Before the end of the year Azerbaijani bank Muganbank plans to appeal to local banks, offering them its own money transfer system Monex, which has been in effect since November 1, Board Deputy Chairman of Muganbank Rasim Ismailov told Trend on Tuesday.
"First of all, we are eager to cooperate with banks having an extended network of branches," Ismailov said.
According to Ismailov, Monex system will benefit not only Muganbank clients but also partner banks. Thus, Monex transactions will give banks the opportunity to receive a larger income than other transactions do. "Probably, we will keep an individual approach in our work with every bank," the Muganbank executive said.
Currently, Monex money transfer system interconnects more than ten cities and settlements of Azerbaijan where Muganbank branches are. At the moment, the bank has 31 branches and two representative offices in Baku and regions of Azerbaijan.