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IBA signs cooperation agreement with Russiaâ€™s Roseximbank

14 November 2014 09:58 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. Today, International Bank of Azerbaijan (IBA) and Russia’s Roseximbank have signed a cooperation agreement.

APA-Economics reports that the agreement was signed by Chairman of the Management Board Dmitry Golovanov and IBA Board Chairman, Jahangir Hajiyev at the 7th International Banking Conference held in Baku under the support of CIS Financial and Banking Council, International Bank of Azerbaijan (IBA) and CIS Executive Committee.

The agreement envisages cooperation in foreign economic sphere between two banks.

“One of the main points in the agreement is possibility of usage of national currencies in our joint works. Switching of accountings n foreign trade to manat and rouble will have positive impact on the development of commercial-economic and political relations between Azerbaijan and Russia. This will reduce currency and political risks for banks and exporters during export operations from Azerbaijan to Russia and from Russia to Azerbaijan. This agreement opens new opportunities for Azerbaijani and Russian exporters. Now, they will easily access to the markets”, Golovanov said.