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Azerbaijani PASHA Bank, Baku City Circuit sign MoU (PHOTO) (UPDATE)

Business Materials 6 May 2016 14:38
A signing ceremony of a memorandum of understanding (MoU) between Azerbaijan's PASHA Bank OJSC and Baku City Circuit Operations Company was held in Baku May 6.

Details added (first version posted on 11:23)

Baku, Azerbaijan, May 6

By Anvar Mammadov - Trend:

A signing ceremony of a memorandum of understanding (MoU) between Azerbaijan's PASHA Bank OJSC and Baku City Circuit Operations Company was held in Baku May 6.

The memorandum was signed by the member of PASHA Bank's Executive Board Aydin Atakishiyev and Baku City Circuit's Commercial Director Bulent Ozerdim.

PASHA Bank will act as Baku City Circuit's partner according to the memorandum. The main purpose of the memorandum is to establish partnerships and to hold joint campaigns.

Atakishiyev said that PASHA Bank will give financial support for holding 2016 Formula 1 Grand Prix of Europe in Baku.

"It is also expected to install banking equipment and to provide banking services during the competition," he said. "In particular, we plan to install five ATMs close to the race track."

Ozerdim, in his turn, noted that this cooperation will continue in the future.

"The memorandum signed between the two companies also envisages cooperation during the next laps of Formula 1, which will be held in Baku," said Ozerdim.

Baku City Circuit is the promoter and organizer of the speedway in Azerbaijan, where the 2016 Formula 1 Grand Prix of Europe will take place.

The first ever Formula 1 race to be held in Baku will start at 17:00 (GMT+4) on June 19.

Edited by SI

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Follow the author on Twitter: @Anvar_Mammadov

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