The National Bank of Azerbaijan (NBA) granted a license to open its Sabayil Branch to the Microfinance Bank of Azerbaijan (MFBA) on January 24, 2007. Trend reports quoting a press-release being spread by the MFBA, that the new branch office is located at the following address: 15, Rasul Rza St. The following branch offices already operated prior to the opening of the new one: Central, 20 January, Khalglar Dostlughu, Airport, Azadlig, Elmlar Akademiyasi and the four other ones in the regions of the country: Sumgayit, Ganja, Shaki, and Lankaran. By opening the new branch office, their total number has reached 11.
The opening of one more branch office is a regular work on expanding our branch network and rendering high-quality banking services to our clients. The new branch is located in the Baku City centre and will operate as a retail-branch, i.e. it will offer the wide spectrum of operation services, speed money order both within the country and abroad, opening current accounts, and servicing VISA plastic cards, works with deposits, etc. Our innovation is that the clients may be serviced at Saturdays, said Andrew Pospielovsky, the General Manager of MFBA.
MFBA is the ownership of the following five institutions: EBRD, IFC (International Finance Corporation), BSBTD (Black Sea Bank for Trade and Development), KfW and a German consulting firm, LFS Financial Systems GmbH.