SOFAZ head: it’s too early to talk about privatization of Int’l Bank of Azerbaijan

16:35 - 10 April 2019

April 10, Fineko/abc.az. The International Bank of Azerbaijan (IBA) plans to launch a new business strategy in the 2nd half of the year.

Shahmar Movsumov, executive director of the State Oil Fund of Azerbaijan and chairman of the Supervisory Board of the IBA, told about that to Trend Agency.

"Currently, work is underway on the development of IBA’s business strategy. Implementation of this strategy will begin in the 2nd half of this year after detailed study and approval by relevant management bodies of the Bank," Movsumov emphasized.

He, however, pointed out that it is too early to talk about the privatization of the IBA.