BAKU, Azerbaijan, September 28. The Central Bank of Azerbaijan (CBA) and the Astana International Financial Center (AIFC) signed a Memorandum of Understanding this week.
The memorandum will contribute to the establishment of a legal framework for cooperation between the institutions, strengthening cooperative relations while promoting the safe functioning of financial markets and enhancing information exchange.
Moreover, the CBA and the Islamic Corporation for Investment and Export Credit Insurance signed a Memorandum of Understanding aimed at expanding the use of Islamic insurance services in the country.
The main objective of the document is to establish a legal framework for cooperation between organizations in the field of Islamic insurance. Under the memorandum, the parties agreed to exchange experience in the field of Islamic insurance and organize various training programs and seminars, as well as mutual visits.
This week the International Bank of Azerbaijan (ABB) held a briefing on the results of the bank's share issue. Main points: more than 33,000 investors purchased shares of ABB, the International Bank of Azerbaijan will continue to actively participate in market processes, shares of the bank were purchased by 48 international investors (44 of them are new investors, and 4 already had shares), about 145-150 people purchased the maximum package of shares of ABB (400,000), while the minimum package of shares was purchased by about 2,000-3,000 investors.
Furthermore, PASHA Bank held a press conference on the results of 6 months of 2024. It became known that the bank plans to issue bonds (in manat and US dollars) by the end of this year, the PASHA Bank branch will open in Shusha in November 2024, and the bank plans to open a representative office in Aghdam. The bank also considers financing projects in the field of renewable energy.