Islamic Bank to provide technical assistance for National Depositary Center network development
In order to develop its operation in regions, National Depositary Center (NDC) is talking to Islamic Development Bank (IDB), Trend reports quoting Bakhtiyar Azizov, president, NDC, saying IDB is going to issue a $200k grant to purchase necessary equipment and software and train personnel for NDC branch offices.
The banks technical assistance will result in equipping regional branches in Ganja and Lankaran.
Azizov said the same amount will be required for further development of regional network in Guba and Sheki. All future branch offices will be linked to head server in online mode.
NDC branch office in Nakhchivan order has come into effect March 1, 2006. This branch office already started operating and is purposed to simplify Nakhchivan shareholders operations with securities. Securities owners in Nakhchivan wont have to come to the capital to make any operations with their equities anymore.