Latvian Parex Bank Prepares to Open Bank in Azerbaijan
Azerbaijan, Baku / corr. Trend I.Khalilova / Azerbaijan and Latvia have shown their interest in co-operating in the banking sector.
The Economy Minister of Latvia, Yuris Strods, stated in Baku on 2 March that the joint Azerbaijani-Latvian Inter-Governmental Commission meeting focused on the working conditions and requirements in Azerbaijan and Latvia, as well as the possibilities of opening a bank. "The banking system of Azerbaijan is open and Latvian banks are represented in Azerbaijan in the form of Parex Bank. According to our information, Latvia considers the possibility to open a bank in Azerbaijan," said the Deputy Chairman of the Executive Board of the National Bank of Azerbaijan, Rufat Aslanli.
According to him, as yet Parex Bank is preparing an appeal to the National Bank of Azerbaijan and therefore, it is not known how it will be represented in Azerbaijan. Azerbaijani banks are also interested in the European markets. "Presently we are studying the possibilities to open branches, daughter banks and representations of the Azerbaijani banks in Latvia.
During the two-day negotiations with the Latvian side, their history was studied and once they have obtained additional information, the Azerbaijani banks will be informed," Aslanli said.