Azerbaijan, Baku /corr. Trend I.Khalilova / The extra ordinary of the Council of Managers of the Black Sea Bank for Trade and Development in December 2007 in Salonika will focus on the issue of allocation of remaining 3% free share in the capital of the bank, said Azerbaijan's Deputy Minister of Economic Development, Mikail Jabbarov, who is director to the Bank from Azerbaijan
"The Government of Azerbaijan is considering the possibility to acquire non-allocated shares and there is time to make a concluding decision by December," Jaabbarov said. The share of Azerbaijan in the Bank's capital will increase from current 2% to 5%.
Some 3% in the Bank's capital remained free due to the issue that three countries ( Armenia, Georgia and Moldova) decreased their participation share by 50% (from 2% to 1%).
The authorized capital of the Bank totals 1bln SDR ($1.325bln). Azerbaijan's share totals 2% (6mln SDR).