“TuranBank” draws funds amount of $ 5 million dollars from “Sus Bee Finance”

29.12.2014 [15:12]
“TuranBank” signed $ 5 million loan agreement with “Sus Bee Finance” Company for a period of 3 years, for the expansion of microfinance portfolio. According to the bank, the Company is located in Luxembourg and supports microfinance activities in different countries with the ...

The Asian Development Bank to allocate $ 752 million to Azerbaijan

22.12.2014 [18:25]
The Asian Development Bank (ADB) will allocate $ 752 million to Azerbaijan, representative of the Asian Development Bank Olli Naojono said as he held press conference on December 22. “ADB is interested in contributing to economic diversification and private sector development in Azerbaijan in accordance with Country ...

PASHA Bank wins two international awards

22.12.2014 [17:55]
PASHA Bank, one of Azerbaijan’s largest banks, has been named ‘Best Investment Bank’ and ‘Best SME Bank’ at the International Finance Magazine (IFM) Financial Awards 2014. The awards ceremony took place in London. Taleh Kazimov, Member of the Board and Chief Investment Director of PASHA Bank commented ...

Fitch affirms stable outlook for IBA

21.12.2014 [15:21]
International rating agency Fitch Ratings has affirmed International Bank of Azerbaijan’s Long-term Issuer Default Ratings at BB. ...

Oil price on world markets

16.12.2014 [11:28]
Oil prices continue to drop in the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil has decreased $1.9 to trade at ...

EBRD launches sustainable energy financing facility ‘Energocredit’ in Azerbaijan

25.11.2014 [20:40]
The EBRD has today launched ‘Energocredit’ to boost the use of energy resources for small and medium-sized enterprises (SMEs), local businesses and households in Azerbaijan ...

Next year Azerbaijan to issue Union Pay cards

19.11.2014 [17:03]
Starting from today the International Bank of Azerbaijan OJSC will accept Union Pay payment cards in its ATM and POS-terminals network. According to Elmir Habibullayev, Director General of the International Bank of Azerbaijan (IBA), as a result, the bank customers will get ...

Azerbaijan’s foreign debt amounts to 8.5% of GDP, Finance Ministry

17.11.2014 [12:11]
Azerbaijan`s Ministry of Finance has said the country`s foreign debt makes 8.5% of the GDP. “As of October 1, 2014, Azerbaijan's foreign debt amounted to 5.005 billion manats which accounts for 8.5% percent of the ...

Azerbaijan, Iran discuss prospects for cooperation in banking sector

14.11.2014 [18:03]
Azerbaijan and Iran have explored ways of developing the bilateral cooperation in the banking sector as chairman of the Central Bank Elman Rustamov met Iranian counterpart Valiollah Seif. They discussed financial and banking issues, as well as memorandums of understanding ...

International Bank of Azerbaijan, Eximbank of Russia sign agreement on cooperation

14.11.2014 [17:01]
An agreement on cooperation has been signed between the International Bank of Azerbaijan and Eximbank of Russia on the sidelines of the 7th International Banking Conference. The document was signed by IBA Chairman of Board Jahangir Hajiyev and Chairman of Board of Eximbank of Russia Dmitry Golovanov ...

Baku hosts 7th International Banking Conference

14.11.2014 [16:52]
The 7th International Banking Conference kicked off in Baku under the support of CIS Financial and Banking Council, International Bank of Azerbaijan (IBA) and CIS Executive Committee. Opening the conference, Chairman of the CIS Executive Committee Sergey Lebedev noted the wide interest ...

USD/RUB sets new record exceeding 40

06.10.2014 [13:57]
USD/RUB opened the trades with emotional move higher above 40 for the first time in history. Ruble is pressured by the recent USD strengthening on positive labor data. ...

Baku to host EFAA annual general meeting

22.09.2014 [19:05]
Baku will host the annual general meeting of the European Federation of Accountants and Auditors (EFAA) on May 7, 2015. The decision was made at the EFAA annual meeting held with the participation of the Azerbaijani delegation from the Chamber of Auditors in Budapest, Hungary, Chamber of ...

PASHA Bank announces half-year financial results

17.09.2014 [16:12]
PASHA Bank has disclosed its financial results for the first 6 months of 2014 at a press-conference. The speakers at the conference were Taleh Kazimov, member of Executive Board and Chief Investment Officer, Bahruz Naghiyev, Head of Treasury Department, and Sona Abbasova, Head of Corporate Communications Department ...

Muganbank offers one more new service to its clients

17.09.2014 [14:45]
Muganbank has introduced one more new service - “Cash by Code” to its clients. The “Cash by Code” enables getting instant cash from ATM even without having a bank card. Muganbank card holders can do a “Cash by Code” trasaction either via ATM or through Mobile Banking service. Muganbank, one of the well-known participants of Azerbaijani financial-banking industry has ...

Global Tax News: Azerbaijan to replicate EU indirect tax laws

10.09.2014 [12:33]
The British Global Tax News website has issued an article titled “Azerbaijan to replicate EU indirect tax laws”. The article reads: “A senior Azerbaijan tax official, in an interview with Azerbaijani media, has announced that the nation is working to harmonize its indirect tax law with ...

“FINCA Azerbaijan” holds opening ceremony of its new branch office in Balakan region

04.09.2014 [15:30]
FINCA Azerbaijan NBCO that provides financial services to small and medium entrepreneurs within the whole region of Azerbaijan held the official opening ceremony of its new office in Balakan region. ...

AtaBank” OJSC was official sponsor of international “Caucasian Motofest”

03.09.2014 [16:03]
“AtaBank” OJSC was official sponsor of the first international “Caucasian Motofest” in Caucasus, held in Sheki region of Azerbaijan with participation of bikers from various countries. During the events, “AtaMatik”- Mobile ATM of AtaBank ...

EBRD extends USD 42 million syndicated loan to Demirbank

01.09.2014 [18:23]
The European Bank for Reconstruction and Development (EBRD) has allocated a syndicated loan worth USD 42 million to Demirbank, one of the leading private banks in Azerbaijan, to support private sector development. Some USD 13 million of this amount was allocated by US, the rest by other banks. The loan ...