OREANDA-NEWS. March 02, 2011. The International Bank of Azerbaijan (IBA) will begin month-long campaign of discounts on bank cards on the first day of spring, is said in statement released by the bank's press-service, reported the press-centre of IBA.

As was recalled by R.Agayev, Head of IBA Press-Service, the bank has already conducted a similar campaign in January this year. The campaign has received great response from the public. Number of applications for the purchase of cards increased compared with the usual period of more than two times. Taking this into account and considering that the bank has received many calls from citizens requesting the extension of the campaign, IBA decided to reopen the campaign discounts from 1 to March 31.

The head of the press-service noted that, in accordance with Presidential Decree of December 9, 2004, in Azerbaijan was approved the State Program on Improvement and Development of Modern Electronic Payment Services. And it has given impetus to the emergence of opportunities for large-scale reforms in the development of modern payment services. Since the program adoption, Azerbaijan succeeded in improving the plastic card market through the distribution of pensions and various allowances and benefits of plastic cards, as well as the salaries of employees of budgetary organizations. International Bank of Azerbaijan attaches special importance to the development of card business. It is known that the development of cashless payments using plastic cards has the macroeconomic significance and this is one of the main directions of IBA.

“IBA in 2010 issued more than 223 thousand cards, and thus led to growth in the domestic market in this segment. At this time, the number of active clients of the bank cards is around 1.8 million, representing more than 40% of the card market of the country. In 2010 the number of card transactions for all banks amounted to 46.4 million, 21 million of these operations accounted for IBA. Turnover of card operations of IBA as compared to the previous year grew by 40 million and amounted to USD2.7 billion manat. For comparison, it should be noted that in 2002 the number of cards in IBA was 28,000 and sales operations with the cards amounted to 71 million dollars,"- said the Head of the Bank Press-Service.

Aghayev has advised also about the conditions of future campaigns. Thus, the price of annual maintenance of such kinds of bank cards as Visa Classic, Visa Gold, Visa Platinum, MasterCard Standard, MasterCard Gold, MasterCard Platinum, which will be purchased from 1 to March 31 will be reduced from 50% to almost 80% (depending on the card term of validity) and will be as follows: Visa Classic/MasterCard Standard with 1-year annual maintenance will cost 20 manats, 2 years - 30 manats, 3 years - 40 manats. Visa/MasterCard Gold respectively - 25, 35, 45 manats and Visa / MasterCard Platinum - 30, 40.50 manats.