OREANDA-NEWS. November 25, 2014. According to information provided by the press service of the International Bank of Azerbaijan (IBA), within the framework of the programme “Pension+” launched by the Bank since October 2013, 45 thousand pensioners have been granted interest-free loans amounting to 471.6 thousand Manats.

All pensioner with a pension card are using loan facilities granted at 165 commercial establishments, including drug stores of RiadFarm, AvestaFarm and Azer-Med companies, Oxygen Clinic, Neptun, Araz, Macromarket, Armo Store, Rahat, Favourite, Bolmart, Bizim Market and Elmar Market supermarkets networks by carrying out cashless transactions.

This service already covers also regions of the country. At the moment, large commercial establishments in Zagatala, Gakh, Ganja and Sumgait too have joined this programme, and their number is growing further.

Within the framework of “Pension+” Programme, all pension card holders may automatically receive a monthly renewable credit in the amount of 100 Manats. And, based on a pensioner’s request, this amount may be increased. Service is free, and no additional commissions or loan interest is withheld from the pensioner. The credit limit may only be used at certain commercial establishments during cashless shopping, as well as with ATMs and official website of IBA to carry out payments of utilities charges. Use of the credit limit becomes possible after the pension facilities are fully spent. Debt generated shall be automatically withheld from the pension amount of the next month. After the debt is fully repaid, the credit limit shall be activated again.