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.