MuganBank portrayed a powerful District Dedication at the EBRD Annual Meeting in Tbilisi
By Tamilla Hasanova
The European Bank for Reconstruction and Development (EBRD) has delivered a report on their activities in Azerbaijan. The description stated the presentation of the “Most Active Issuing Bank in Azerbaijan” award for the year 2014, to MuganBank OJSC.
It is significant to note that MuganBank OJSC did not partake in this program alone, as about 100 banks or more from 28 different countries also took part. This award from EBRD was meant for a list of banks, which encompassed only those that thrived excellently in the area concerned with issuing bank guarantees.
During the 2015 Annual Meeting and Business Forum of the EBRD and as part of the yearly Trade Facilitation Programme (TFP) which took place in Tbilisi (Georgia) from the 13th of May to the 15th of May 2015, Nick Tesseyman who is the Managing Director of Financial Institutions and Ambassador together with Chih-Kung Liu who is the head of the Taipei Representative Office in UK at EBRD presented the award to Mr Kamran Gasimov, the deputy Director of the credit department of MuganBank.
In the report, it was duly noted that the impact of Kamran Gasimov is not over emphasized. According to the bank officials, he contributed immensely to the great feat achieved by the bank. The Chairman of the Management Board of MuganBank Elmir Hasanov stated that it is under the management and headship of Mr. Gasimov that this enormous task was completed and because of his outstanding skills, the bank has achieved an incredible result in the field of bank guarantees which made them the first in the country as a whole and in the entire district.
In the report given by EBRD officials, they declared that the successful implementation of about 68 (sixty eight) guarantees and other transactions such as the L/C transactions which are worth about 14 (fourteen) million US dollars or even more is a very tough feat for a bank as renowned as MuganBank OJSC. In respect to this, the EBRD officials pointed out that the first-class transmitting value of global expenditure gave room for reduction in expenses which improved the velocity of the arrangements which the bank executed.
Muganbank OJSC, which is a famous partaker in the fiscal-banking sector in Azerbaijan, has been known to be in full function since 1992. It has thirty-eight (38) local branches and seven (7) sub-branches which consistently and efficiently provide its clients with every kind of banking merchandise.
They are also known to work mutually with different fiscal organizations, including; International Finance Corporation (IFC), Overseas Private Investment Corporation (OPIC), World Business Capital, Inc. (WBC) Islamic Corporation for the Development of the Private Sector (ICD), European Bank for Reconstruction and Development (EBRD), and the US Agency for International Development (USAID) amongst others and they are also reported to uphold an advanced appropriate relationship with the principal banks in Turkey, Ukraine, Russia, Germany, Latvia, Kazakhstan, China, and Austria.
News.Az
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