CESD Research Paper: International Bank of Azerbaijan: Why the South Caucasus’s largest bank has requested restructuring?

CESD Research Paper: International Bank of Azerbaijan: Why the South Caucasus’s largest bank has requested restructuring? The devaluation of Azerbaijan’s national currency, the manat, in February 2015, was the culmination of a series of long-term problems found within the “International Bank of Azerbaijan” Open Joint Stock Company (hereafter referred to as IBA). Assets that had lost value and sharply increased commitments added to other... Read More

Int’l Bank of Azerbaijan signs its first contract since Islamic window launch

Int’l Bank of Azerbaijan signs its first contract since Islamic window launch The International Bank of Azerbaijan (IBA) and the Islamic Corporation for Development of Private Sector (ICD) have signed the $20 million Commodity Murabaha Agreement. “Commodity Murabaha means sale of certain specified commodities, through a metal exchange, on a cost plus profit basis,” IBA Islamic Banking Director Behnam Gurbanzadeh said, Fineko reports. The... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More