List of Banks Joining Golden Crown Supplemented

JSC Bank Technique has joined the list of financial and credit institutions that have joined the international money transfer system Golden Crown.

It is the 21st in a row (43 banks in Azerbaijan) participant in the system, whose infrastructure in the country has already exceeded 1,350 bank branches and other units. As stated in the press release on behalf of the Deputy Director of Business Development Department of the Bank Farid Babaev, thanks to cooperation with the CIS market leader in remittances, they intend to provide their customers with enhanced capabilities to commit instant transfers without opening an account.

The clients of Bank Technique were able to receive and send money transfers within the said system, both in Russian rubles and in US dollars at the minimum rate of 1%. The advantage is that such transfers are instant and untargeted and do not require opening an account.

JSC Bank Technique has been operating since 1994 and up to the first quarter of 2012 (when Etibar Aliyev, the head of the Supervisory Board and co-founder with a share of 15% of the shares was arrested) it was not in difficulty. Then it was robbed the business on June 19, 2013 by registering at the Baku Stock Exchange OTC transactions in the amount of 48 million 565 thousand manat (48 565 shares with a nominal value of 1 thousand manat each). Now, releasing Aliyev and returning him to his previous position, the leadership is hoping to revive the business. --17D-