OREANDA-NEWS. The 5th Caspian International Conference and Exhibition Banking & Finance were held on 8-9 April, 2008 at the Grand Hotel Europe in Baku. Since this year the event will be organized in Baku due to the fast grow and development of financial sector in the region especially in Azerbaijan Republic.

The event was organized by Iteca Caspian, ITE group PLC (Great Britain) and ITE LLC Moscow, and is designed to create opportunities for dialogue among banks and other financial institutions. The conference focused on banking and financial systems of the Caspian region, banking sector’s development trends, international and interregional financial ties, new ideas and latest proposals for the said economic sectors.

Those attending are the representatives of Azerbaijan’s National Bank, heads of the banking associations of Russia, Kazakhstan and Georgia, reps of the international financial organizations — International Financial Corporation, Asian Development Bank, and experts of the internationally known companies.

At the exhibition AZEL presented core bank system "Progress" developed by AZEL’s specialists in 1995. "Progress" is a universal solution for modern banks and includes local legislation, Azeri language support and many other useful functions. "Progress" is Oracle data based system and fully corresponds to the highest requirements. Now core bank system "Progress" is installed and used by many Azeri banks such as, Parabank, Muganbank, Atrabank, Credo bank, Debut bank, Gandjabank, Pakistan Milli Bank Baku Branch, Bank Melli Iran Bаku Branch, Eurobank, Royal Bank of Bаku, Bаnk Silkway, and Bank Eurasia.

"Progress" is a sole banking system in the region that was registered at the Oracle partner site and accepted as Oracle data based certified application. In 2003 developers group of AZEL received the national prize “UGUR” for universal solution in the field of computer technologies. Also, special programs for Microsoft software legalization and Epson (Japan) printers and business equipment (projectors, scanners) were presented at the AZEL’s stand.

According to Igor Yakovenko, President of AZEL, "International Banking and Finance Conference and Exhibition have a great importance for exchange of experience and strengthening of partnership relations between financial structures. The main goal of AZEL’s participation in the event is a possibility to show our solutions developed for banking and finance sectors and attraction of the new customers".