IBA chair re-elected
Jahangir Hajiyev, the Board Chairman of the
International Bank of Azerbaijan (IBA), has been re-elected for a
third term, according to a recent decision by the bank`s
shareholders.
In accordance with the country`s Law on Banks, the board members of crediting organizations are elected every four years and approved by the Central Bank.
IBA holds a dominant position in the Azerbaijani banking sector, has a well-developed branch network and provides banking services to large corporate clients and, to a much lesser extent, to private individuals.
IBA is currently the only bank with state ownership in Azerbaijan. The government`s share in the bank is 50.2 %, while the rest of the capital is owned by private shareholders.
In accordance with the country`s Law on Banks, the board members of crediting organizations are elected every four years and approved by the Central Bank.
IBA holds a dominant position in the Azerbaijani banking sector, has a well-developed branch network and provides banking services to large corporate clients and, to a much lesser extent, to private individuals.
IBA is currently the only bank with state ownership in Azerbaijan. The government`s share in the bank is 50.2 %, while the rest of the capital is owned by private shareholders.
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