Baku, September 29, AZERTAC
Participation of the International Bank of Azerbaijan (IBA) in the annual banking and financial conference and exhibition Sibos in Geneva aroused interest of the visitors. This year the IBA joined this leading global event for the international financial community for the first time. The IBA’s stand was placed in the center of the exhibition hall next to the world’s leading financial institutions and attracted attention of many guests.
During the event the delegation of the IBA held meetings with representatives of more than 60 financial institutions and informed them about the current economic situation in Azerbaijan, reforms and positive changes in business environment, the mission of the IBA and its place in social and economic life of the country.
The IBA also discussed the issue of attracting of the syndicated loan during the meetings. More than 20 financial institutions showed their interest in entering the deal. Four financial institutions joined the deal immediately. Currently the IBA continues negotiations. The loan will be used to refinance current liabilities of the bank.
This is an indicator of confidence of the foreign investors to Azerbaijan and the IBA. The interest to the bank and negotiations held during Sibos 2016 one more time prove that international financial institutions trust the IBA and are interested in partnership with it. Bank hopes that primary negotiations will push the efforts to increase the cooperation with foreign financial institutions.
The first annual banking and financial conference and exhibition Sibos organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) was held in 1978.