Baku, Azerbaijan, June 21
Trend:
Azerbaijan’s Pasha Bank will render conversion services while selling foreign currency to the Azerbaijan Investment Company (AIC), the AIC said in a message published by the country’s official press June 21.
According to the message, Pasha Bank was announced a winner in a tender conducted by the AIC. A corresponding agreement with the bank was signed June 14.
The Azerbaijan Investment Company (AIC) was established upon a decree of Azerbaijan’s President Ilham Aliyev on March 30, 2006.
The AIC has an authorized capital of 160 million manats.
The main objective of the Company is to make long-term investments in individual joint-stock companies and other non-oil sector commercial organizations through purchase of shares in them.
The company's activity covers such areas as ICT, agriculture, alternative and renewable energy, food processing, industry, logistics, tourism, processing, and others.
Pasha Bank is a leading corporate bank in Azerbaijan. The bank, founded in 2007, renders a range of corporate banking services, including issuance of loans, operations in the securities market, asset management, and treasury services.
Pasha Bank OJSC, along with Pasha Insurance, Pasha Life, Pasha Travel and Pasha Construction is a member of the Pasha Holding, which is actually an investment company but not a classic holding company.
Kapital Bank is also included in Pasha Group.