The service "Pension +" of the International Bank of Azerbaijan (IBA) is available in more than 150 retail locations.
According to the information from the financial structure, the services are available to all owners of pension cards of the bank, who can use the network of pharmacies Riyadfarm, AvestaFarm and Azeri-Med, the private clinic Oksigen, the supermarkets Neptun, Araz, Makromarket, ArmoStore, Rahat, Favorit, Everest and Bolmart. The extended format of services has been joined by more than 20 companies with a tendency to expand.
All owners of pension cards each month are automatically allocated an interest-free credit limit of 100 manat. Furthermore, based on the request of the credit limit can be increased. The service is free, for its use are not charged commissions and interest. The resulting credit limit can be used for non-cash transactions in certain commercial enterprises or for online payment of utility services on the bank's website. Using credit limit possible after the complete consumption of the accrued pension. Debt to credit limit is repaid automatically from the amount of the pension next month. After full repayment credit limit again becomes available.
In Azerbaijan, as of September 1, there were registered 1.2 million labor pensioners receiving from 140 to 250 manat a month. This means that for them a plastic card is not a full-fledged means of payment, but the ability to remove the entire pension at once without standing in queues to the post office. --17D-
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