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Islamic Development Bank to Allot Loan for Azerbaijani Bank

Business Materials 1 November 2007 13:32 (UTC +04:00)

Azerbaijan, Baku / corr Trend A.Badalova / The Islamic Development Bank intends to allocate a AZN 5mln loan for the Azerbaijani bank Amrahbank. Mahmoud Agamaliyev, the chairman of the Managing Bank of Amrahbank, said on 1 November that loan will be allocated for 5 years.

"The Islamic Bank has approved the loan and now its registration is underway. We are to receive the loan in January," Agamaliyev said.

Presently, the statutory capital of Amrahbank is AZN 12mln. Amrahbank has functioned since 1993 and 20 branches in the country and over 250 employees.

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