Baku, Azerbaijan, Apr. 5
By Orkhan Quluzade – Trend:
Turkey’s Banking Regulation and Supervision Agency (BDDK) has given permits for PASHA Yatirim Bankasi A.S. (a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey), said a message posted on the website of the Resmi Gazete (Official newspaper).
Reportedly, the bank has obtained permits for the purchase and sale of currency option contracts, intermediary services while signing currency option contracts, intermediary services while selling capital market instruments, forfeiting operations and intermediary services on insurance.
BDDK approved PASHA Bank's purchasing 79.9 percent shares in TAIB Bank, which was renamed to PASHA Yatirim Bankasi, on December 29, 2014. Later, PASHA Bank increased its stake to 99.9 percent. The remaining part belongs to other shareholders.
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.
---
Follow the author on Twitter: @o_quluzade