Azer-Turk Bank Promises to Compensate Users of Its Plastic Cards for Losses in Exchange Rates
JSC Azer-Turk Bank, 75% of whose shares are controlled by the State Committee for Property Affairs of Azerbaijan, today spread information according to which it will cover the losses of the owners of its plastic cards as a result of the AZN rate change.
According to the announcement, when removing the amount of foreign exchange transactions carried out before December 21, the rate set by the Central Bank of Azerbaijan on December 18 will be applied. At the same time the loss due to the difference in the course will be covered by the financial resources of the bank. The solution regards operations with all types of cards.
JSC Azer-Turk Bank was established in 1995. Its main shareholder is the State Property Committee (75%). The Turkish TC Ziraat Bankasi has 12.37%, the company AzRe has 6.55%, the insurer Qala Life has 5% and Ziraat Bank Intenational AG has 1.08%. --17D-
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