Supervisory Chamber: process of improvement of Int’l Bank of Azerbaijan enters into final stage


February 21, Fineko/ The process of recovery of the International Bank of Azerbaijan is at the final stage.

The Financial Market Supervision Chamber of Azerbaijan (FIMSA) says that Banks’ bad assets have been transferred to Agrarkredit and restructuring of IBA’s external liabilities was ensured.

"In cooperation with the World Bank, the legal framework of Bank’s restructuring has been formed, and a new article has been added to the Law on Banks of Azerbaijan," FIMSA said.

The process of the IBA improvement is conducted in compliance with the presidential decree from 15 July 2015.