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Moscow prolongs authorized bank status for IBA-Moscow

Business Materials 6 March 2009 17:49 (UTC +04:00)

Azerbaijan, Baku, March 6 / Trend /

Moscow has prolonged the authorized bank status to the International Bank of Azerbaijan Moscow branch (IBA-Moscow) for 18 months.

The status was prolonged by eight banks, including Binbank, Bank VTB and Alfa Bank.

"This step has demonstrated Moscow's confidence to IBA-Moscow. The IBA-Moscow is a reliable business partner," a source from bank said.

The Moscow Authorized Banks Institute was founded 17 years ago to establish business between the city administration and commercial banks. "The IBA-Moscow is an authorized bank of Moscow since 2004.

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