Amirates Bank Interested in Participation in Caspian International Investment Company’s Capital
Azerbaijan, Baku / Trend corr. I.Khalilova / Amirates Bank expressed readiness to invest into the capital of the Caspian International Investment Company, which was established by the Azerbaijani Investment Company (AIC) and Islamic Private Sector Development Corporation on 29 November, AIC's Deputy Executive Director Riad Gasimov said on 29 November.
We will activate negotiations with the company on drawing capital after finishing the registration process," Gasimov said. The company will be registered by the end of 2007 and beginning of 2008 under the decision taken during the Constituent Assembly held on 29 November.
Gasimov said that it is planning to implement road-show to Islamic countries including Bahrain, Qatar, the United Arab Emirates and others in order to draw capital to Caspian International Investment Company from the first quarter of 2008.
About $70mln is planning to draw to the Caspian International Investment Company.
ICD's Executive Director Khaled Al-Abudi considers possible financing of telecommunication, logistic, agriculture, service, medicine and construction materials fields.
Initially, the corporation's share in the Caspian International Investment Company will make up 75%, and to be decreased to 10% for two years.
AIC's share made up 25%.