Azerbaijani Kauthar Bank issues eurobonds
Azerbaijan, Baku, Aug. 20 / Trend /
The Azerbaijani State Securities Committee recorded secured non-documentary registered bonds at Kauthar Bank this week totaling 1.11 million euro.
The committee registered 5,550 bonds with a nominal value of 200 euro each.
The bank is placing its second bond emission this year. The bank issued 5,700 bonds with a nominal value of 200 manat each in May.
Kauthar Bank was re-registered by the Justice Ministry in September 2001, changing its name from Universal Bank. The Central Bank of Azerbaijan granted a license to the bank's new name in October 2002. The bank offers cash management, money transfer, and plastic card banking services, but does not issue credit or attract deposits.
Kauthar Bank is the only bank in Azerbaijan that operates on "Islamic banking" principles.