OREANDA-NEWS. November 14, 2012. The International Bank of Azerbaijan (IBA) has announced about prolonging a cooperation contract with American Express in Azerbaijan, reported the press-centre of IBA.    

A new agreement for a term of six years has been signed in Baku today. According to it, IBA will continue acting as an exclusive issuer of American Express Cards on the Azerbaijani market. At the moment, the bank issues the cards of the following systems: American Express Gold Card, American Express Green Card, The Platinum Card.

IBA has been an exclusive partner of American Express in Azerbaijan since May 1, 2008.

It has announced about issuing and promoting the cards of American Express ® Card and American Express ® Gold Card, nominated in manat on the Azerbaijani market.

According to the new agreement, IBA will continue attracting the trade-service enterprises for acquiring American Express in Azerbaijan and will manage other aspects of the relations with the trade and service enterprises, including accounting, reporting, and marketing.

"We are pleased to be a partner of American Express in Azerbaijan," IBA first deputy chairman Emil Mustafayev said at the signing ceremony. "We are confident that our partnership will be a key to ensuring the highest level of customer service and trade-service enterprises. The increase in the number of units accepting American Express cards will allow owners of these cards to make a purchase in Azerbaijani shops easily and with pleasure."

He said that taking into account the further cooperation, local customers of the bank and many foreign visitors will be able to use the services of American Express.

"American Express is pleased with extending our partnership with the IBA," Alex Ferber, Vice President on Business Development at American Express Global Network Services in Europe, Middle East and Africa said. "This reflects our business strategy with the best partners in the world. Since 2008, our partnership has been developing and gaining strength, enabling us to expand the network to accept American Express cards and strengthen brand presence in the Azerbaijani market."

American Express has been operating since 1850 and currently has 146 partner-banks in 159 world countries.