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State Fund for Social Security of Azerbaijan defined the concept of ATMs installation in regions

Business Materials 12 July 2006 16:42 (UTC +04:00)

The State Fund for Social Security of Azerbaijan has defined the ATMs location in regions of Azerbaijan in order to issue pensions and benefits to the population, Trendreports quoting Salim Muslimov, chairman of the Fund.

The ATMs will be located in towns in 5, 10 or 15km from area centers, as well as in large villages. Muslimov said this system shall cover all the citizens receiving pensions. The fund is now studying the situation with banks as such a project is quite expensive. ATM costs $30 to $35k, not including further maintenance.

Speaking on non-issuing amounts less then 5 AZN in ATMs, Muslimov said this is a technical issue to get solved upon the increase of cash mass of small nominal.

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