Azerbaijan Kauthar Bank increases capital
Azerbaijan, Baku, Sept. 20 / Trend /
OJSC "Kauthar Bank" applied to CJSC "Baku Stock Exchange" (BSE) for inclusion of its ordinary registered book-entry shares to the non-quotation list of BSE. The start of the OJSC "Kauthar Bank"s shares placement is planned to be held beginning from Sept.20, 2010.
Parameters of the issue:
|
State registration number |
AZ100100484P |
|
Issue volume |
2 million manat |
|
Quantity of shares |
10 000 |
|
Par value |
200 manat |
|
Underwriter |
"Standard Capital" LLC |
Until this issue, the bank's authorized capital amounted to 10.6 million manat.
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.
