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Wednesday, June 28, 2017

International Bank of Azerbaijan opening new regional card centers

The International Bank of Azerbaijan, the state-controlled bank operating in the Republic of Azerbaijan, recently opened a new regional office for the processing of AzeriCards and the issuance of Qibla debit cards.

The regional center will significantly reduce the time it takes to issue cards and send them to customers and partner banks.

The IBA rolled out the new Qibla cards for customers of its Islamic banking services earlier this year. The card contains a special e-compass that allows users to determine the direction of the Qibla, the Kaaba in Mecca.

Funds allocated within the Islamic Banking Department are placed in a so-called "sub-treasury" and are not mixed with other accounts.

The IBA plans to open several more card centers in various regions of the country in an effort to further improve its bank cards and card services.

Headquartered in Baku, the bank currently consists of 36 branches and 95 service outlets in more than 40 cities.