OREANDA-NEWS. October 01, 2008. According to information from the press-service of the International Bank of Azerbaijan, the Board has made the decision on cutting of tariffs for banking services provided to natural persons and legal entities.

IBA is a universal bank providing all opportunities to its clients for efficient use of wide range of banking services. Therefore, in order to increase the quality of services, bank has made the decision on optimization of the tariff table and significant reduction of the tariffs. These changes has affected the tariffs for individual as well as legal entity clients.

In particular the significant reduction has affected the tariffs for cash operations, exchange services, money transfer, plastic cards etc. Besides, the bank has its separate specific tariff system for foreign and international humanitarian aid entities, diplomatic representations as well as credit entities.

In adoption of the decision on tariff cut the Bank has been guided by the fact that its client base has reached a considerable size (as of 01.08.08 the number of legal entity clients was equal to almost 39 thousands and individual clients at almost 640 thousand), with service network covering almost all regions of the country.

Considering the fact that Bank client base includes the representatives of all categories with variety of the income levels and financial capabilities, Bank has decided that it is important to make tariffs most affordable for majority of population. Bank considers that new tariffs will stimulate the majority of country citizens to commence use of banking products and services.

We shall note that in the new tariff table of IBA is reflected the bank’s determination to expand the volume of non-cash operations in the country via implementation of the new electronic banking products. For the time being the majority of these products (internet banking, mobile banking, information booths) are provided to clients free of charge or on very good price basis.

Among significantly “reduced” services and products for natural persons we shall note the plastic card services (for instance the annual servicing of Visa Electron or Maestro was reduced down to 10 AZN, and annual servicing of Visa Gold or MasterCard Gold – down to 75 AZN ), immediate money transfer services (for instance the tariff for transfers via IBA-Moscow and IBA-Georgia has been reduced from 0.5% to 0.25%) etc.

Detailed information can be obtained in the bank servicing network, as well as IBA website www.ibar.az.