AZERBAIJANI BANK`S NEW YORK OFFICE PRAISED

Baku, May 14 (AzerTAc). The U.S. Federal Reserve Bank and the New York State Banking Department concluded the first scheduled check-up of annual activities of the International Bank of Azerbaijan (IBA), which has an office in the world leading financial center - New York. The inspection was held to check up while the office`s activities correspond the New York St. banking legislation and the Federal banking legislation, as well as existing standard norms documents.
“Final estimation of the activities was positive. A communiqué addressed to the IBA characterizes positively the representation`s work on all directions and voices a wish for further development of its activities in similar way,” the statement said.
The IBA representation in New York acts as a mediator between the central office in Baku and the bank`s financial partner-institutes in the U.S.
Besides its office in New York, IBA also has representations in Europe`s huge financial centers, including London, Frankfurt am Main, Luxembourg and Dubai.
Its major tasks are to protect client`s interests in the U.S. and form a new clientele base, attracting investments to Azerbaijan and assisting establishing mutually profitable relations between the U.S. and Azerbaijani business circles.