On December 30, 2025, the “PASHA 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 is the first fully integrated banking, payments and e-commerce ecosystem of the Caucasus, redefining how people and businesses interact with daily services in Azerbaijan. Launched in 2025 to unite the country’s leading brands, including Birbank, Birmarket e-commerce platform, MilliÖn payment terminals, and m10 e-wallet app, the Bir ecosystem reaches over 5 million users. Through its extensive ecosystem and strategic partnerships with Trendyol marketplace and BakıKart transportation payment solution, Bir is building the foundation for Azerbaijan’s first and largest digital ecosystem for consumers and businesses.
For additional information, please visit: https://bir.az/
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