Baku, Finance Time. The second International Conference “MONEY TRANSFERS” organized by“Business Format” took place on April 9-12, 2014 at “Titanik Business Bayrampasa” hotel, Istanbul, Turkey.

“Muganbank” OJSC was one of the major sponsors of the international conference. The conference was attended bymore than 30 participants and guests, includingmanagers of banks and financial institutions, interbank business representatives, heads of financial organizations, analysts-experts from such countries as Azerbaijan, Turkey, Georgia, Russia, Belarus, Czech Republic, Uzbekistan and Moldova.

Muganbank delegation took an active part in the international conference. Rasim Ismayilov, the Deputy Chairman of the Board of “Muganbank” OJSC made a comprehensive report “Monex –yesterday, today, tomorrow and market innovations” where the speaker fully explored the development, introduction and use of express money transfer system “Monex” as well as contemporary in-house products and technologies for carrying out an analysis of international financial markets.

Representatives of different international express money transfer systems, as well as, Ersun Kutlu from “Aktif Yatırım Bankası A.Ş” distinguished themselves for their remarkable speeches. Ersun Kutlu spoke about the advancement of money transfer system “UPT”.

The speeches of other conference participants were dedicated to express money transfer systems market, global situation, projected growth of the express money transfer systems market and its local segments. A subject of unfailing interest among the conference participants was also the growth of the international financial market infrastructure.

“Muganbank” OJSC, one of the well-known participants of Azerbaijani financial-banking industry has been functioning since 1992. The bank’s 33 branches and 6 sub-branches within the country effectively serve customers with all types of banking products. “Muganbank” OJSC cooperates with several international financial institutions  among them the US Agency for International Development (USAID), European Bank for Reconstruction and Development (EBRD), International Finance Corporation (“IFC”), WorldBusiness Capital, Inc. (WBC), Overseas Private Investment Corporation (OPIC) and others.  “Muganbank” OJSCmaintains high-level correspondent relations with leading German, Russian, Turkish, Latvian, Austrian, Kazakh and Ukrainian banks.