Pakistani bank's subsidiary ups its authorized capital

Business Materials 15 March 2010 14:57 (UTC +04:00)

Azerbaijan, Baku, March 15 / Trend N.Ismayilova /  

The Azerbaijani State Securities Committee registered the ordinary registered uncertified shares of the Azerbaijani  leasing company MCB Lizinq in the amount of 838,105 manat, the committee said today.

The Prospect of 838,105 units of shares with a par value of one manat each, was registered March 10.

The Azerbaijani Taxes Ministry registered the leasing company Oct. 15, 2009 with an authorized capital amounting to 4,000 manat. The founders of the MCB Lizinq are Pakistan MCB Bank LTD and Namiq Safarov.

MCB is one of the leading Pakistani banks. The Bank has a customer base of about 4 million people, a nationwide distribution network that includes more than 1000 branches and 450 ATMs in the market.

March 15, the official exchange rate is 0.8033 manat to $1.

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