SOFAZ may extend period of deposit in International Bank of Azerbaijan

SOFAZ may extend period of deposit in International Bank of Azerbaijan
  • Clock-gray 14:34
  • calendar-gray 12 October 2016

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.

 

Other news