Baku, Azerbaijan, June 13
By Azad Hasanli – Trend:
The International Bank of Azerbaijan (IBA) has started the process of reorganization in the IBA-Moscow [a subsidiary of the IBA in Moscow], a source in the country’s financial market told Trend June 13.
The bank’s Strategic Committee and the Problem Assets Committee have been disbanded within this process, according to the source.
In addition, new composition and provisions of the bank’s Risk Management Committee, Asset and Liability Management Committee, Information Technology Committee, Small Credit Committee, Credit Committee and Audit Committee have been approved in accordance with the decision of the IBA.
The IBA-Moscow was created in 2002 as a subsidiary of the IBA, a major part of assets of which is owned by Azerbaijan’s Finance Ministry.