SOFAZ may extend period of deposit in International Bank of Azerbaijan

SOFAZ may extend period of deposit in International Bank of Azerbaijan
# 12 October 2016 14:34 (UTC +04:00)

Baku. Yegane Lachinzade - APA-Economics. SOFAz Executive Director Shahmar Movsumov commented on the placement of deposits in the International Bank of Azerbaijan.

According to him, the Fund may place 5% of its assets in the local market: “This makes up $1.6 billion. We have placed $1 billion and don’t intend to place $600,000”.

The fund has been placed for the period of one year at 4%.

The executive director added that if bank wants the period of deposit may be extended.

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THE OPERATION IS BEING PERFORMED