IBA transferred under management of Azerbaijan Investment Holding

President Ilham Aliyev has signed a decree on the transfer of the International Bank of Azerbaijan (IBA) OJSC to the management of the Azerbaijan Investment Holding and the regulation of a range of issues arising from this, amendments to the decrees "On the procedure for state participation in the management of banks and non-bank credit organizations, in the authorized capital of which there are state-governed shares" dated August 7, 2009 and "On measures to improve the activities of the Ministry of Finance" dated February 9, 2009.

In addition, the head of state signed an order on the transfer of Azer-Turk Bank and the State Insurance Commercial Company (Azersigorta) to the management of the Azerbaijan Investment Holding and the regulation of a range of issues arising from this.