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Kazakhstan, Azerbaijan and Russia to Establish Single Islamic Bank in CIS |
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Thursday, 12 January 2012The International Bank of Azerbaijan (IBA) and Russia's VTB Bank plan to attract one of the leading banks of Kazakhstan for establishment of a single Islamic bank in the CIS space.
Azerbaijan's Trend Agency reports with reference to head of the working group on implementation of Islamic banking in the IBA Behnam Gurbanzade.
"At the fourth Baku International Banking Conference of the CIS member states, which was held in December, 2011, the IBA was chosen as a platform and a regional center on development of Islamic financing in the Commonwealth countries. And the work in this direction is underway," Behnam Gurbanzade said.
According to him, in accordance with the agreements between VTB Bank and the IBA, the Russian bank will use experience of the Azerbaijani specialists and consultants in the field of Islamic banking, and the Azerbaijani bank, in turn, - the VTB's experience.
"We will unite our efforts by the Financial and Banking Council of the CIS. in the future we would like to attract one of the leading banks of Kazakhstan and create a triple alliance," he said. |
Thursday, 12 January 2012
Gazeta.kz
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