Baku, Azerbaijan, Feb. 7
Trend:
The management of the International Bank of Azerbaijan (IBA) considers it important to involve the International Finance Corporation, the European Bank for Reconstruction and Development, Asian Development Bank, which are interested in the socio-economic development of Azerbaijan, in the bank’s privatization process, Khalid Ahadov, chairman of the bank’s board, said in an interview with Reuters.
"Moreover, the preference can be also given to the private foreign financial institutions which will be able to introduce new technologies in the IBA,” he said. “The local investors can be also involved through the placement of shares in the country’s domestic stock market."
Ahadov spoke about the measures on IBA’s reorganization.
“IBA will be able to get small profit by the end of 2017 through the current measures,” he said.
Ahadov added that the bank has no problems with the fulfillment of its external obligations.
While speaking about the preparation for IBA’s privatization, Ahadov said that the process will be carried out gradually.
Ahadov also shared his opinion about the possible investors, who may participate in the privatization process.
International Bank of Azerbaijan has been operating since 1992.