Requirement for improvement of banks’ software should be introduced in Azerbaijan
Azerbaijan, Baku, Feb.6 / Trend A.Akhundov /
Many Azerbaijani banks do not have software meeting modern requirements, Chairman of the board of the Azerbaijani-Turkish AzerTurkBank Sami Acarozmen told Trend on Monday.
"To increase the quality of banking services one should have good software. Banks with small capital cannot buy good software because it costs at least $1 million," Mr Acarozmen said.
He noted the Central Banks of Uzbekistan and Turkmenistan demanded from their banks that they should buy the most modern software by late 2011; otherwise they will lose their licenses.
"Azerbaijan also needs such requirement," Mr Acarozmen said.
Turkish State Ziraat bank, which owns 50 per cent of AzerTurkBank's stock, is also present in the banking markets of Turkmenistan and Uzbekistan.
As many as 44 banks currently operate in Azerbaijan.