Azerbaijan Investment Company to Sign Memorandum with International Finance Corporation
Azerbaijan, Baku / Trend , corr I. Khalilova / The Projecting Group of the Azerbaijan Investment Joint-Stock Company (AIC) reported that they are to sign a Memorandum on Mutual Understanding with the International Finance Corporation (AFC) on 9 March.
The major goal of the Memorandum is to introduce the corporative management standards into the companies where the AIC is to have a share.
A special guideline, similar to the Corporative Management Code, is to be provided to the companies for introduction of the corporative management standards. Thus, the Azerbaijani enterprises will have the opportunity to co-operate not only with the Investment Companies but other foreign investors and international financial institutions as well.
The IFC project currently assists Azerbaijan companies and banks to introduce the standards. Azerigazbank and AZEL have been chosen initially.