Azerbaijan, Baku / Trend corr I. Khalilova / The International Bank of Azerbaijan, MOSCOW LLC, has been issued a general license of the Bank of Russia for implementing bank operations. The license was issued due to expansion of the activities of the credit organization.
Before the issuance of the license, the Central Bank of Russian verified the correspondence of the activities of the IBA-MOSCOW with the acting laws, norms, and regulations, as well as comprehensively assessed its financial stability.
The general license provides IBA-MOSCOW with access to the financial market of other countries. This will enable expansion of its activities at the expense of drawing supplementary international financial resources for investing in the economy of Russia, establishment of relationships with foreign partners and contra-agents, opening of foreign branches, and the expansion of its client base at the expense of foreign companies. The general license lifts the last restrictions and is an important step for the bank in pursuing universal activities.
As far as Russia's stabilization and economic development, IBA-MOSCOW participates in crediting enterprises which have market prospects, provides for services in financing of corporative projects, and takes part in attracting international long-term financial resources in the interests of its clients.