Azeri Banks Activated Co-operation with International Payment Systems

Business Materials 4 December 2006 14:36 (UTC +04:00)

The list of the member-banks of the international payment system is expanding in Azerbaijan. Joint-Commercial Zaminbank was admitted to the associated member of the international Payment system Visa International under the sponsorship of Azerdemiryolbank, Trend reports with reference to Processing Center Millikart.

The bank is expected to issue nearly 5,000 cards by the end of 2007.

Azerbaijan Micro-Finance Bank (AMFB), which became an associate member of Visa, also prepares to issue international cards. The bank will begin emissions from December 11. AMFB intends to present all micro credits through cards. According to the business plan, AMFB plans by the end of 2006 to issue nearly 500 international cards, and increase their number up to 5,000.

Presently CIBank entered the membership in both payment systems Visa and MasterCard, and it is expected to make a decision on Debutbank.