International Bank of Azerbaijan” (“IBA”) and “Kapitalbank” won the open tender announced by the State Social Security Fund (SSSF) under the Ministry of Labour and Social Security for banking services.
This was reported on a unified electronic portal of public procurement.
The report says that the SSSF signed sale and purchase agreements with “IBA” worth AZN 16.2 million and with “Kapitalbank” worth AZN 16 million. Thus, the 2 banks together will receive AZN 32.2 million from the Fund.
It is not the first time when the SSSF announces “IBA” and “Kapitalbank” as winners. For many years the Fund has been using the services of the two banks for making social payments
Source: Turan News Agency