OREANDA-NEWS. On May 01, 2008 International Bank of Azerbaijan has launched issuing cards of international payment system American Express, reported the press-centre of IBA.

American Express vice president Tristan Kirchner visiting Baku at the moment said that the IBA is an exclusive partner of the system in Azerbaijan.

“American Express Card is one of the most profitable around the world. They ensure full insurance of its holder, including in case of card loss. And we are sure of success of our co-operation with the IBA,” Mr. Kirchner said.

Rovshan Kerimov, IBA Deputy Chairman of Board, said that the Bank has started from issuing the American Express Card (so called “green Card” and American Express Gold Cards, but in the future it intends to begin issue other products of the system.

“For the next five years we are planning to issue 135,000 American Express cards. International Insurance Company will undertake coverage on these cards,” Kerimov said.

Annual service of “green” card will cost AZN60 and Gold Card AZN150 with minimum credit line of AZN1000 and AZN3000 respectively.