Baku Interbank Currency Exchange and Moscow International Interbank Association sign agreement

Baku Interbank Currency Exchange and Moscow International Interbank Association sign agreement
# 27 April 2012 10:58 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Baku Interbank Currency Exchange and Moscow International Interbank Association have signed cooperation agreement. The document was signed by head of Baku Interbank Currency Exchange Ferhad Emirbeyov and president of Moscow International Interbank Association Aleksey Mamontov.

Emirbeyov says the main purpose of the agreement – to receive information, technical and consultation assistance from the MIIA for creation of appropriate opportunities in trade square of BICE in order to develop interbank money and credit market in Azerbaijan.

In turn, Mamontov noted that the Association had interbank e-credit market square, which daily turnover makes 150 bln rubles. To him, MIIA has big experience in organization of interbank money market and this experience will help BICE to establish relevant active and productive square.

Note that, by this square it will be possible to conduct operations between Azerbaijani and Russian banks.
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THE OPERATION IS BEING PERFORMED