OREANDA-NEWS. April 13, 2012. The number of active plastic cards issued by the International Bank of Azerbaijan (IBA), reached 1,870,540 units, reported the press-centre of IBA.

"Compared with the beginning of 2012, the number of IBA cards increased by 12,867 units," the bank said.

Number of POS-machines installed by the bank in trade and service points reached 4,025 units thus increasing 230 units compared to the beginning of 2012.

"This year we are planning to intensify the work on the development of non-cash payments. Therefore, IBA management has recently decided to increase the number of POS-terminals and ATMs," the First Deputy Chairman of the IBA, Emil Mustafayev, said.

He indicated that in the coming months the bank plans to install additional 1,000 POS-terminals under the Azerbaijan Republic State Program of development and improvement of modern electronic payment tools. I naddition, the number of ATMs will increase from the current 653 to 800 units, "there is a task to bring their number to 1,000" (at the beginning of 2012 IBA possessed 630 ATMs).

"It is planned to install POS-terminals in almost all points of sale, but we will not confine ourselves in simply increasing their number. Both the International Bank of Azerbaijan, and other banks should have a lot of programs that will increase people's interest in the use of cards," said Mustafayev.

He said these may be different bonus programs both for car dholders and retailers, credit car dprograms.

"Assistance of the Ministry of Taxes and the Government as a whole is to stimulate an increase in card usage, including at by the taxation rates," said the First Deputy Chairman of the IBA. As per our information Ministry of Taxes in conjunction with the Central Bank has prepared proposals for the development of electronic payments.

International Bank of Azerbaijan was established in 1992 as the successor of the Azerbaijani branch of Vnesheconombank. IBA holds a dominant position in the banking sector of the country.