OREANDA-NEWS. December 25, 2009. “Today the first drawing has been held for premium lottery bonds of “MuganBank” Open Joint Stock Company in Baku”, stated Elnur Huseynguliyev, from “APA-Economics”, reported the press-centre of MuganBank.

According to “APA-Economics”, Shaig Alakbarov, the Member of the Bank’s Supervisory Board made a detailed speech on the lottery rules to the participants.

As stated by Mr. Alakbarov, on October 30, 2009 “MuganBank” OJSC launched placement of the interest bearing bearer bonds. Face value of a bond  is 50 (fifty) AZN. The bonds were issued by the Issuer for the term of 10 (ten) years and ensure annual interest of 2%. Any interested person can get the bonds and chance to win 10 000 AZN.

In the event that the bonds did not win, the  bondholder may hand them over in any branch of the bank and receive his/her money back. Separately serial number of each bond will take part in the drawing lots arranged by the Issuer in every 45 (forty five) days and gives a chance for the following winnings: 10.000 (2 pcs.), 5000 (5 pcs.), 2500 (10 pcs.), 1000(18 pcs.), 500(29 pcs.), 250(30 pcs.), 100(6 pcs.).

Later on the drawing lots was started up where prizes amounting from AZN 100 to AZN 10 000 were raffled and the winning numbers got known.  The holder of bond no. 154594 became the winner of the AZN 10 000.

We would like to note that, “MUGANBANK” OJSC was established on the basis of the license of the National (Central) Bank of the Republic of Azerbaijan in 1992. The main targets of the Bank since its establishment have been active participation in the development of the economy of the country, provision of all types of bank services to the broad circle of the population as well as yearning to be one of the advanced financial institutions in the bank system. At present the bank has 28 branches and sub-branches.