Azerbaijan, Baku, Oct.27 / Trend N. Ismayilova, E. Ismayilov /
Azerbaijani PASHA Bank will be a co-sponsor of the Investment Summit scheduled for Nov.17 in Tbilisi, PASHA Bank board chairman Farid Akhundov told journalists on Thursday.
"We intend to attend this summit, and we are co-sponsor of the event," he said.
One of the general sponsors of the summit is the State Oil Company of Azerbaijan (SOCAR)
The summit in Tbilisi will be attended by representatives of the Georgian government and international companies. The event is expected to debate the prospects for economic development of Georgia.
SOCAR is an active participant in Georgia's oil and gas market. SOCAR Energy Georgia represents SOCAR's interests in this country. In particular, the company has intensified its activities in gas distribution and sale of oil products (it has gas station network with more than 70 stations). SOCAR is also owner of the Kulevi Oil Terminal in the Georgian Black Sea coast.
A representative office of PASHA Bankhas been operating on the Georgian banking market since the summer. Azerbaijani PASHA Bank plans to appeal to the National Bank of Georgia to obtain a license for full banking activities by the end of 2011.
PASHA Bank has worked with the Georgian banks and companies for a long time.
PASHA Bank was established in June 2007 and operates under license of the Central Bank of Azerbaijan dated Jan.28, 2007.
PASHA Bank shareholders are: PASHA Holding with 60 percent of the shares, the company ADOR Ltd with 30 percent and Arif Pashayev with 10 percent.