Azerbaijani Fiscal Market is Interesting and Dynamic: Kazakh Bank Chairman
Kazkahstan, Astana /corr. Trend K.Konirova / TuranAlem Bank of Kazakhstan intends to open its office in Baku, Trend Correspondent in Kazakhstan Astana reports.
Mukhar Ablyazov, the Chairman of the Board of Directors of TuranAlem, stated that the Azerbaijan's fiscal market is interesting and dynamic and presents an opportunity to conduct business. Ablyazov noted that TuranAlem's strategy includes opening of its branches in all CIS countries and other countries. TuranAlem positions, as a global financial institute and a bank, are keen to extend within strategic directions, Europe, Turkey and China, he said.
Opening an office in Baku will offer universal services including financing the population and business projects. The office is expected to operate in the second half of 2007.
"The commissioning of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline is accompanied not only by oil deliveries and oil workers into the region, but it also promotes investments into other fields. There is a rapid market economy growth rate which stimulates the flow of capital. If we penetrate this market and become competitive, we will capitalize," he stressed.
He noted that though a branch of TuranAlem is successfully operating in Georgia, the opportunities in Azerbaijan are much wider. " Tbilisi's population is over 1 million people, while residents of Baku exceed 4 million, he added.