Azerbaijan’s largest bank becomes a member of Zolotaya Korona remittance system
Baku, Fineko/abc.az. The leader of the banking market in Azerbaijan - International Bank of Azerbaijan – has connected to system Zolotaya Korona - Remittances.
ZK reports that on 5 May the first money transfer via the system, which came from Russia, was issued in the IBA office. On 13 May, the first outgoing remittance was transferred via the ZK system from the Bank to Ukraine.
The IBA’s 47 points in 33 cities of Azerbaijan are ready to give or send remittances via ZK system in one of the three currencies at the choice of clients - rubles, US dollars or euro. Totally 63 points of the IBA are to connect to the system.
"Since early 2011 this is the second new bank connected to this system in Azerbaijan. Earlier Xalq Bank started work in the system. Thanks to collaboration with these two new partners the ZK system network increased in the country by 20% and more than 470 points," Shahla Kasimova, ZK deputy director for CIS development, said.
Azerbaijan is the most represented country on the number of ZK partner banks on the CIS area: more than 20 partner banks in 49 cities of Azerbaijan offer for customers an opportunity to send or receive money via the ZK system. With the connection by the IBA the system services for the first time became available in a number of small towns of Azerbaijan - Balakan, Hajigabul, Dashkesen, Oguz, Salyan, Saatli and Shabran.
“The ZK system is leading in the remittance market in Azerbaijan: every second transfer from Russia to Azerbaijan and back is carried out through the system. The new partnerships enable us to increase the market share and achieve the overwhelming advantages of the system in Azerbaijan,” Kasimova said.
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