Contract on banking program delivery for Kapitalbank to be signed till late 2005

ICT Materials 13 December 2005 18:16 (UTC +04:00)

“The results of the tender on purchase of the banking program for Kapitalbank state bank will be publicized soon,” Rauf Rzayev, the chairman of the Board of the bank, said to a news briefing, Trend reports. The tender was announced after annulment of the contract with the Indian Infosys Technology Company.

Estimation of bids is held among three companies. According to Rzayev, the contract with the supplier may be signed till late 2005. The tender is held within the WB’s credit on Financial Sector Technical Assistance. Kapitalbank plans to sign the contract on full program delivery, while the contract with the Infosys Technology envisaged delivery of software core.

The fund required for implementation of the project will grow from $918,000 envisaged in the contract with the Infosys Technology to approximately $1m - $1,400,000 due to the increasing request of Kapitalbank.