Azerbaijan, Baku, May 23 / Trend /
The IBA-Moscow Ltd. bank received a licence from the Central Bank of the Russian Federation for conducting operations with precious metals, including their involvement in deposits and allocation in accordance with the legislation of the Russian Federation. This will expand the range of services provided to the customers of the financial institution.
The licence grants the right to perform all kinds of operations with precious metals and coins from foreign issuers. Soon, IBA-Moscow is going to develop and introduce new banking products in precious metals which in turn, will provide the bank's customers additional opportunities for diversification of financial instruments for saving and enhancement of cash assets.
"The licence will expand the range of financial services and establish instruments for the protection of customer assets from possible risks of fluctuations in the financial market and inflation processes. Moreover, the bank intends to place precious metals on deposit accounts opened at other banks, as well as provide loans in precious metals," chairman of the board at IBA-Moscow Fuad Abdullayev said.