Azerbaijani bank plans to present new Islamic banking structure

Photo: Azerbaijani bank plans to present new Islamic banking structure / Economy news

Azerbaijan, Baku, May 18 / Trend /

Seven companies gained access to a tender to create specialized structure in the International Bank of Azerbaijan (IBA) to render services within Islamic banking.

"Document receipts to participate in the tender were completed on May 12. We received eight package of documents, however, only seven companies reached the final phase," head of working group on introducing the Islamic banking in the IBA Bahram Gurbanzade said.

Tender bids will be opened at the IBA headquarters on June 6. The commission will start assessing proposals.

Within five daysafter publishing the tender results, the bank will sign an agreement with a consultant to render services.

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