Azerbaijan, Baku /corr. Trend I.Khalilova / The Deputy Chairman of the Executive Board of the Azerbaijan International Bank (AIB), Asker Mammadov, said that in 2008 for the first time in the banking history of Azerbaijan, the AIB plans to carry out sectorization of the future money flow.
"It is a quite new tool for us, which is based on the banking product, i.e. real money flow. We want to use it to attract finance from the European market," Mammadov said.
This is a quite long-term tool. It envisages an opportunity to attract finance for 7-10 years. The concluding result of the tool is real money flow. Mammadov considers that the bank has enough stable business and is ready to implement such a tool.
The sectorization tool is based on establishment of an expeditor-company, which will hold monitoring of the movement of the real monies - flow via cards. "If we attract debts in amount of $100 mln, but the turnover via card reaches $1 bln, then a repayment schedule is devised due to the relevant repayment period and interest and commission are paid from this turnover," Mammadov said.