Privatization of International Bank of Azerbaijan not on agenda - official (UPDATE)

Economy Materials 9 February 2023 16:55 (UTC +04:00)

Details added: first version posted on 12:59

BAKU, Azerbaijan, February 9. Privatization of the International Bank of Azerbaijan is not on the agenda, Head of the State Service on Property Issues under the Ministry of Economy Matin Eynullayev told reporters on the sidelines of a press conference on the results of 2022, Trend reports.

According to Eynullayev, if any state entity operates at a profit, then there is no need for its privatization.

"The main goal of the investment holding is to ensure the stability and profitability of its member organizations," he added.

According to the Decree No. 1174 of the President of the Republic of Azerbaijan Ilham Aliyev "On ensuring the activities of the Azerbaijan Investment Holding" dated November 5, 2020, the International Bank of Azerbaijan OJSC was transferred to the management of the Azerbaijan Investment Holding.