On December 30, 2025, the “PAŞA Holding”s new subsidiary, “PAŞA
Maliyyə Holding” (PASHA Financial Holding), officially began
operations. Through this strategic move, Bir ecosystem, the first
fully integrated digital ecosystem in the Caucasus, has become part
of the new holding. At the same time, key appointments have been
made within the management structure.


As part of the new structure, Farid Mammadov, Deputy Chief
Executive Officer of PAŞA Holding and Chief Executive Officer of
the Bir ecosystem, has been appointed Chief Executive Officer of
“PAŞA Maliyyə Holding” and Chairman of the Supervisory Board of the
Bir ecosystem. In addition to his new role, he will continue to
provide strategic leadership as Chairman of the Supervisory Board
of OJSC “Kapital Bank”.


Farid Huseynov, Chairman of the Board and Chief Executive
Officer of Kapital Bank, has also been appointed to a new strategic
role. Starting January 2026, he will hold the position of Chief
Executive Officer of the Bir ecosystem alongside his current
responsibilities at Kapital Bank.


Javid Mirzayev, Board Member of Kapital Bank, has been appointed
Head of FinTech Business of the Bir ecosystem. At the same time, he
has received a new appointment as First Deputy to the Chairman of
the Management Board of Kapital Bank, Farid Huseynov. Previously
Javid Mirzayev served as Chief Retail Business Officer of Kapital
Bank.







The leadership of the Payments Business, established within the
Bir ecosystem, has been entrusted to Jalal Orucov. In one of the
directions of the Payments Business, PashaPay LLC, one of the
country’s largest electronic payment operators, which integrates
the “m10” and “MilliÖn” platforms, changes have also been made to
the management. In accordance with the decision, Punhan Narimanov
has been appointed Executive Director of PashaPay LLC.


Samir Mammadov has been appointed Chief Executive Officer of
Birmarket, one of the country’s largest e-commerce platforms. He
previously led the fintech startup PashaPay, which developed
Azerbaijan’s first large-scale electronic payment systems.


Bir ecosystem unites the country’s leading brands, Birbank,
Birmarket, m10, MilliÖn and Bir Bonus under one umbrella. At the
same time, the ecosystem collaborates with joint ventures such as
Trendyol Azerbaijan and BakıKart, enhancing the customer
experience. Thanks to this integration, customers benefit from QR
payments in partner networks and public transport, credit shopping
on Birmarket via Birbank, installment payments on Trendyol
Azerbaijan using Birbank cards, a unified bonus program and many
other solutions. All these services are built on four core pillars
of the ecosystem: Unified login, Unified bonus, Unified payment and
Unified credit platform, which deliver fast, convenient,
cost-effective and secure services to customers.