Users of first financial hub in Azerbaijan to benefit from range of free services

Finance Materials 29 August 2020 09:56 (UTC +04:00)
Users of first financial hub in Azerbaijan to benefit from range of free services

BAKU, Azerbaijan, Aug. 29

By Eldar Janashvili - Trend:

Clients of Azerbaijan's Muganbank OJSC, when being for the first time connected to the Mugan Hub online platform, will be offered free tax and accounting services for different terms, depending on the type of client, the bank told Trend.

So, an individual entrepreneur will be provided with the services for three months, a legal entity paying income tax or a simplified tax - for two months, and a legal entity paying VAT - for one month.

According to the bank, the reason for creating the Mugan Hub project, the first Finance Hub project for the Azerbaijani banking market, was the damage done by COVID-19 to the global economy, as well as to the economy of Azerbaijan since the beginning of 2020.

The bank stressed that during the pandemic, serious difficulties emerged in the activities of small and medium-sized businesses both around the world and in Azerbaijan.

“To this end, the Muganbank Finance Hub was created, which has become a unified ecosystem to support entrepreneurs involved in the small and medium-sized businesses. This financial cluster allows small and medium-sized entrepreneurs to use free services, as well as receive financial support from the bank to cover accounting costs,” noted the bank.

"The project aroused wide interest of clients and the number of those interested and joining the Mugan Hub project is growing day by day," the bank said.