“Bank of Azerbaijan” Open Joint Stock Company launched its activity based on license of the National Bank of Azerbaijan Republic under the name “Rabbatbank” commercial bank. Dış Ticaret of Turkey JSC and two Azerbaijani individuals purchased shares of the bank and renamed it “Commercial Bank of Azerbaijan” Joint Commercial Bank in 1998. Organizational-legal from of the bank was changed into “Commercial Bank of Azerbaijan” Joint Stock Company in 2004 in accordance with Law on Banks of The Republic of Azerbaijan and was officially registered at Ministry of Justice of The Republic of Azerbaijan. The bank left the list of shareholders of Turkish Joint Stock Company of Foreign Commerce and sold 1% of share to Arabian company “Nem Holdings Limited” and it was decided to have it known as “Bank of Azerbaijan” JSC at general meeting of shareholders in 2006.  Bank of Azerbaijan presently offers a wide range of services including settlement and cash services, consumer, business and mortgage credits, documentary operations, deposits, plastic cards, money transfers, travel cheks, safe deposit boxes etc. Bank of Azerbaijan is actively involved in the government’s enterprise lending and mortgage loan programs. Bank of Azerbaijan is chosen as an authorized bank on purpose of using the funds of the Fund. Bank of Azerbaijan is the member of Deposit Insurance Fund established in accordance with Law on Insurance of Deposits of The Republic of Azerbaijan and deposits of people made in Baku are insured under the terms of the Fund. Bank of Azerbaijan has recieved International Standardization Organization (ISO) 9001 certification on Corporative Management System. One of the priority directions of activities of Bank of Azerbaijan is active participation in foreign and local associations. Bank of Azerbaijan is a member of the Board of the Azerbaijan Bank Association, National Confederation of Entrepreneurs of Azerbaijan. Bank of Azerbaijan is also a member of international payment system VISA International and is one of the pioneers of issuing chip cards. Bank of Azerbaijan has joined Western Union and Xpress Money urgent money transfer systems. We have established authorized relations with foreign and local banks. These include “Sberbank” of Russia, “Drezdnerbank” of German and all the leading banks of Azerbaijan. In the period of rapid development of Azerbaijani as well as world economy main and priority object of Bank of Azerbaijan is to expand its activity area and service network. The network of customer service currently includes 19 branch offices, 34 exhange and 21 ATM’s in Baku, Nakhchivan, Sabirabad, Balaken, Ujar and Zardab.