ECONOMY


IBA becomes TheCityUK first member in Caspian region

Baku, November 27 (AZERTAC). The International Bank of Azerbaijan (IBA) has joined TheCityUK and became the first member of the organization in the Caspian region, it was declared during the international Caspian Corridor Conference, held on November 26 in London.

The event was organized by the International Bank of Azerbaijan and UK banks “The City UK” and “Asia House”.

"We are grateful for the opportunity to expand corporate relationships between Azerbaijan and Great Britain. The high professionalism of TheCityUK team contributes to promotion of high standards of business running in tandem with the growth of a new market," IBA chairman of board Jahangir Hajiyev said.

We are pleased that the IBA has agreed to join TheCityUK. The IBA is a bank that brings invaluable experience from the region of Caspian corridor for TheCityUK,” TheCityUK’s CEO Chris Cummings said.

According to Mr. Cummings, there are several reasons that make the Caspian region attractive to investors, including "youth" of the nation, the rate of GDP growth and economic liberalization reforms undertaken by the governments in the region.

TheCityUK is the new, independent membership body for promoting the UK-based financial and professional services industry. It continues the work of International Financial Services London (IFSL) and UKTI's Financial Services Sector Advisory Board (FSSAB). Both were incorporated into TheCityUK.

TheCityUK, through the Research Centre, conducts primary research among members, businesses and consumers about relevant financial and professional services issues and produces a range of authoritative economic reports on industry sectors, products, and key financial indicators.

 

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