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Amrahbank, IIB to lunch a joint fund

12 October 2009 16:46 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijanâ€™s Amrahbank and the International Investment Bank based in Bahrain plan to launch a joint fund, said Emil Mammadov, chairman of the Azeri Bank.

According to him, the fund will direct the funds secured through IIB to Amrahbank.

He said the parties are in negotiations on the matter.

Amrahbank is one of the oldest (est. 1993) and leading commercial banks of Azerbaijan. It offers a wide range of retail and corporate banking products such as deposits, loans, money transfers, documentary transactions and investment advisory services. The Bank is a member of various professional organisations such as the Deposit Insurance Fund, Mortgage Fund, National Entrepreneurship Fund and Azerbaijan Banks Association. The strategic partnership with the International Investment Bank based in Bahrain (through a 49% shareholding), has played a key role in further developing many areas of Amrahbank including corporate governance, international cooperation and product and services quality.