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Turan Bank gets $75 million from World Business Capital

Turan Bank gets $75 million from World Business Capital

09 September 2009 15:13 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. Azerbaijan-based commercial bank Turan Bank has announced that it received a $7.5 million loan from World Business Capital.

The loan came for 10 years.

Rashad Tanriverdiyev, strategic planning and international relations officer at the bank, said proceeds of the loan will go to small and medium-sized businesses.

Besides, Turan Bank and Finance Service Voluntary Corps (FSVC) have signed a tenhical assistance agreement which will cover assets-liabilities and risk management, money laundering, information system development and new product and marketing promotion.

Owned by 5 legal entities (20%) and 20 individuals (80%), Turan Bank has been in operation since 1992.

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